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The MillerCorp would like to acquire its competitor, the ModiglianiCorp. To pay for the acquisition expenses, it is intending to issue bonds that pay semiannual

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The MillerCorp would like to acquire its competitor, the ModiglianiCorp. To pay for the acquisition expenses, it is intending to issue bonds that pay semiannual coupon payments. These corporate bonds would have a coupon rate of 12 percent and their YTM would be 10 percent. The bonds would have 18 years left until their maturity. Interestingly, the ModiglianiCorp has the same plan. It wants to take a loan to acquire its competitor, the MillerCorp, by issuing corporate bonds. In fact, it already recently sold bonds for this purpose. Like the MillerCorp's bonds, its bonds pay coupons twice a year, have a 10 percent coupon rate, have a YTM of 12 percent, and they mature 18 years from today. How much money can each company borrow by selling each of its bonds? Both corporations' bonds have a $1,000 par value. In addition, if future bond rates remain unchanged, what will be the prices for both companies' bonds 1 years from now? What about 7 years, 12 years, 16 years, and 18 years from now? (Do not round your intermediate.calculations. Round your final answers to 2 decimal places, e.g., 32.16.)

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