1.) A bond carries a 9 percent coupon, paid semiannually. The par value is $1,000, and the bond matures in seven years. If the bond currently sells for $911.37, what is its yield to maturity?

2.) A bond carries a 9 percent coupon, paid quarterly. The par value is $1,000, and the bond matures in seven years. If investors require an 8 percent yield, what is the bond's value?