7. A company is contemplating a long-term bond issue. It is debating whether or not to include a call provision. What are the benefits to the company from including a call provision? What are the costs? How do these answers change for a put provision? (10 marks) 8. One year ago, Langford Co. issued 14-year bonds with a face value of $1,000 and a coupon rate of 6.9%. The bonds make semi-annual payments. If the yield to maturity (YTM) on these bonds is 5.2%, what is the current bond price? (10 marks) 9. Two years ago, Braemar Corp. issued 12-year bonds with a face value of $1,000 and a coupon rate of 7.1%. The bonds make semi-annual payments. If these bonds currently sell for 105% of par value, what is the YTM? (10 marks)