1) A Sprint bond has a face value of $1,000, a coupon rate of 7.75%, with coupons paid semi-annually, and 15 years to maturity. If the effective annual return for bonds of comparable risk is 7.75%, the price that you should be willing to pay for this bond is?

2) A corporate bond with a face value of $1,000 and coupons paid semi-annually, sells for

$1,058.39. The term to maturity is 14.5 years. If the yield to maturity of similar bonds is

9.5%, what is the coupon rate of this bond?