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1. A bond offers a coupon rate of 12%, paid annually, and has a maturity of...

1. A bond offers a coupon rate of 12%, paid annually, and has a maturity of 19 years. If the current market yield is 13% (discount rate), what should be the price of this bond?

2. A bond offers a coupon rate of 12%, paid semiannually, and has a maturity of 6 years. If the current market yield is 8%, what should be the price of this bond?

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