Midland Oil has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature...

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Midland Oil has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 20 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. 12 percent b. 9 percent c. 15 percent Bond Price Midland Oil has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 20 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. 12 percent b. 9 percent c. 15 percent Bond Price