The Sunland Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 10.075 percent. The current market rate for similar securities is 11.8 percent. Assume that the face value of the bond is $1,000.

1. What is the current market value of one of these bonds? (Round answer to 2 decimal places, e.g. 15.25.)

b- What will be the bonds price if rates in the market (i) decrease to 9.80 percent or (ii) increase to 12.8 percent? (Round answers to 2 decimal places, e.g. 15.25.)

Bond's price

(i) Decrease to 9.80 percent $

(ii) Increase to 12.8 percent $

3. The parts of this question must be completed in order. This part will be available when you complete the part above.

4. The parts of this question must be completed in order. This part will be available when you complete the part above.