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The Metchosin Corporation has two different bonds currently outstanding. Bond M has a face value of $70,000 and matures in 20 years. The bond makes
The Metchosin Corporation has two different bonds currently outstanding. Bond M has a face value of $70,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $2,800 every six months over the subsequent eight years, and finally pays $3,100 every six months over the last six years. Bond N also has a face value of $70,000 and a maturity of 20 years, it makes no couporn payments over the life of the bond. The required return on both these bonds is 10 percent compounded semiannually, what is the current price of bond M and bond N? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Current price Bond M Bond N
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