1. Perry Inc.'s bonds currently sell for $1,159. They have a 4-year maturity, an annual coupon rate of 9%, and a par value of $1,000. What is their current yield? (Round your answer to 2 decimal places)

2. One year ago Lerner and Luckmann Co. issued 10-year, noncallable, 8% annual coupon bonds at their par value of $1,000. Today, the market interest rate on these bonds is 6%. What is the current price of the bonds, given that they now have 9 years to maturity? (Round your answer to 2 decimal places.)