1. A bond with a face value of $$1,000$ has a price of $$1,007\mathrm{.}32$ and a coupon rate of $7\mathrm{.}75\%.$ What is the bond's current yield?

2. What is the price of a $22-$year bond with a $7\mathrm{.}4\%$ annual coupon and a yield to maturity of $9\mathrm{.}87\%?$