M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 9% with bond interest payable semiannually. Six years ago, $980 was paid for the bond. At least a 12% return (yield) on the investment is desired.
A. The semiannual bond interest payment that M. Poirot received is _________
B. The minimum selling price must be __________