1. If a bond with a $1000 face value and coupon rate of 10% currently sells in the market for $1114.96 and has 8 years left till maturity, what is the required rate of return? Show your work

2. Grace Industries issued a 20-year bond 3 years ago; the bond has a $1,000 face value and a 6% coupon rate. If the bond currently sells on the market for $744, what is the required rate of return? (Hint: close to the nearest discount rate) Show your work