1. Intel recently issued semi-annual, 4.1% coupon bonds. The bond will mature in 3 years. The current yield-to-maturity for bonds like this is 2.2%. Assuming the par value is $1,000, what is the price of this bond?

2. Derrick is deciding between investing in a municipal bond with an interest rate of 2.61% and a corporate bond. Derrick's marginal tax rate is 24%. For what interest rate on the corporate bond will Derrick be indifferent between investing in the municipal bond and the corporate bond?