1.

Current Yield for Annual Payments

Heath Foods' bonds have 9 years remaining to maturity. The bonds have a face value of $1,000 and a yield to maturity of 9%. They pay interest annually and have a 8% coupon rate. What is their current yield? Round your answer to two decimal places.

%

2.

Bond Valuation with Annual Payments

Jackson Corporation's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 9%. The bonds have a yield to maturity of 5%. What is the current market price of these bonds? Round your answer to the nearest cent.

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