1.

a. Consider a bond with a face value of $1,000. The bond's maturity is 17 years, the coupon rate is 3% paid annually, and the discount rate is 14%.

What should be the estimated value of this bond in one year? Enter your answer in terms of dollars, rounded to the nearest cent.

b. Consider a bond with a face value of $1,000. The bond's maturity is 5 years, the coupon rate is 11% paid annually, and the discount rate is 12%.

What is the bond's Current Yield? Enter your answer as a percentage, without the '%' sign, and rounded to one decimal.