6. Award: 7.14 points Problem 7-31 Valuing Bonds (LO2) The Metchosin Corporation has two different bonds currently outstanding. Bond M has a face value of $30,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $1,900 every six months over the subsequent eight years, and finally pays $2,200 every six months over the last six years. Bond N also has a face value of $30,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. The required return on both these bonds is 12% compounded semiannually, what is the current price of bond M and bond N? (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Current Price Bond M Bond N References Worksheet Leaming Objective: 07-01 Important bond features and types of bonds. Problem 7-31 Valuing Leaming Objective: 07-07 Bonds (LO2) The term structure of interest rates and the determinants of bond yields 2020 McGraw Education. All rights reserved