Question: I'm having a difficult time with the below 2 problems. Can you please help me. Thanks! Oriole, Inc., has issued a three-year bond that pays

I'm having a difficult time with the below 2 problems. Can you please help me. Thanks!

  1. Oriole, Inc., has issued a three-year bond that pays a coupon rate of 9.8 percent. Coupon payments are made semiannually. Given the market rate of interest of 4.0 percent, what is the market value of the bond?(Round answer to 2 decimal places, e.g. 15.25.)
  2. Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent. Assuming annual payments, what is the present value of the bond? (Do not round intermediate computations. Round your final answer to the nearest dollar.)

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