Problem 6-13 Pricing Consol Bonds (LO2) Perpetual Life Corp. has issued consol bonds with coupon payments of $85. (Consols pay interest forever and never mature. They are perpetuities.) a. If the required rate of return on these bonds at the time they were issued was 5.0%, at what price were they sold to the public? Price sold to the public b. If the required return today is 12.5%, at what price do the consols sell? Current price