1. Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%; and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.

2.Nesmith Corporation's outstanding bonds have a $1,000 par value, a 10% semiannual coupon, 19 years to maturity, and an 8% YTM. What is the bond's price? Round your answer to the nearest cent.