use excel functions

4. (10 points) Solve the following: A bond has the face value $1000 and pays a coupon semiannually for 10 year. The ANNUAL coupon rates are 11.96% and the market annual interest rate is expected to be 9.54% compounded semiannually for next 10 years. a. What is the semiannual coupon payment? b. What is the expected bond price? 5. (25 points) Apple carned $6.74 per share this year and its proper Beta is 1.34. Analyst expects that the risk free rate, the market return, the earnings growth rate, and the payout ratio of dividend would change in the following way; Using the information, answer following questions. a. By using CAPM, calculate five different expected cost of capital. What is the cost of capital at time 12 . b. List growth rates and calculate expected earnings each year. What is the expected earnings at time 15 . c. Write payout ratios on the given column and calculate future dividends. What is the dividend at time 45 . d. List the cost of capital and calculate PV factor for each year. PV factor at time t is given by: PV factor t=i=1t(1+ki)=(1+k1)(1+k2)(1+kt) What is the PV factor at time 10. e. Using other two provided columns (PV of dividend and Cumulative PV), find the expected value of Apple today