7-1. BOND VALUATION Madsen Motors’s bonds have 23 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 9%, and the yield to maturity is 11%. What is the bond’s current market price? (10 pts) 7-2. YIELD TO MATURITY AND FUTURE PRICE A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and sells for $980. What is its yield to maturity (YTM)?  (5 pts)   7-3. BOND VALUATION Nesmith Corporation’s outstanding bonds have a $1,000 par value, an 8% semiannual coupon, 14 years to maturity, and an 11% YTM. What is the bond’s price? (5 pts)

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