Midland Oil has $1,000 par value bonds outstanding at 12 percent interest. The bonds will mature in 15 years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Compute the current price of the bonds if the present yield to maturity is: Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual. a. 10 percent b. 15 percent c. 18 percent Bond Price ✪

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