Question: Please. Show every step and be as clear as possible. TES bonds have the following: 7 % coupon, 14 years until maturity, and are currently

Please. Show every step and be as clear as possible.

TES bonds have the following: 7 % coupon, 14 years until maturity, and are currently selling at $984.

i) If you purchase the above bond, what would be your AYTM? ii ) If you want to make an 8% return, what would you be willing to pay?

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