Miller Corporation has a premium bond making semiannual payments. The bond has a coupon rate of 7 percent, a YTM of 5 percent, and 13 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond has a coupon rate of 5 percent, a YTM of 7 percent, and also has 13 years to maturity. What is the price of each bond today? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g, 32.16))
If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 4 years? In 8 years? In 12 years? In 13 years? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g. 32.16).

Question

Miller Corporation has a premium bond making semiannual payments. The bond has a coupon rate of 7 percent, a YTM of 5 percent, and 13 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond has a coupon rate of 5 percent, a YTM of 7 percent, and also has 13 years to maturity. What is the price of each bond today? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g, 32.16)) 
If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 4 years? In 8 years? In 12 years? In 13 years? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g. 32.16).

Price of bond	Bond X	Bond Y
One year	$	$
Two years	$	$
Seven years	$	$
9 years	$	$
11 years	$	$

Price of bond	Bond X	Bond Y
One year	$	$
Ten years	$	$
Fifteen years	$	$
19 years	$	$
20 years	$	$

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