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Problem 2 You are considering the purchase of a 20-year bond with an annual coupon rate of 9.5%. The bond has a face value of $1,000. You require a 12% nominal yield to maturity on this investment. a) If the bond makes annual interest payments, what is the maximum price you should be willing to pay for the bond? b) If the bond makes semiannual interest payments, what is the maximum price you should be willing to pay for the bond? Problem 3 Tropical Candy Inc. are considering two W projects, A and B. Their cash flows are shown below. Both Project A and Project B have an estimated cost of capital of 10%. Cash flows will be realized at the end of each time neriod. m Project A Cash Flow at time0 Project B Cash Flow at time I _ 1111 .2] - 26338 133.1 m 1024.87 146.41 3221.02 1610.51 a) Calculate the NPV for each project. Which, if either, project should be accepted? Why? b} Are there other capital budgeting criteria? If yes, list at least one