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The Morgan Corporation has two different bonds currently outstanding. Bond M has a face value of $21,000 and matures in 16 years. The bond makes

The Morgan Corporation has two different bonds currently outstanding. Bond M has a face value of $21,000 and matures in 16 years. The bond makes no payments for the first 6 years, then pays $1,500 every six months over the subsequent 4 years, and finally pays $2,000 every six months over the last 6 years. Bond N also has a face value of $21,000 and a maturity of 16 years; it makes no coupon payments over the life of the bond. If the required return on both these bonds is 11 percent compounded semiannually, the current price of Bond M is $__________, and the current price of Bond N is $____________.

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