Chapter 15 Assignment Saudi Help Save & Exit Submit Check my work Assets, Inc., plans to issue $6 million of bonds with a coupon rate of 9 percent, a par value of $1,000, semiannual coupons, and 15 years to maturity. The current market Interest rate on these bonds is 8 percent. In one year, the interest rate on the bonds will be either 12 percent or 8 percent with equal probability. Assume investors are risk- neutral. a. If the bonds are noncallable, what is the price of the bonds today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) eBook Price of the bonds Tin References b. If the bonds are callable one year from today at $1,060, will their price be greater or less than the price you computed in part (a)? Lesser Greater