1. Madsen Motors's bonds have 14 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 11.5%; and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.
2. An 8% semiannual coupon bond matures in 5 years. The bond has a face value of $1,000 and a current yield of 8.2429%. What is the bond's price? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the bond's YTM? (Hint: Refer to Footnote 7 for the definition of the current yield and to Table 7.1.) Do not round intermediate calculations. Round your answers to two decimal places.