1) Renfro Rentals has issued bonds that have a 9% coupon rate, payable semiannually. The bonds mature in 16 years, have a face value of $1,000, and a yield to maturity of 8.5%. What is the price of the bonds? Round your answer to the nearest cent.

2)A bond trader purchased each of the following bonds at a yield to maturity of 10%. Immediately after she purchased the bonds, interest rates fell to 7%. What is the percentage change in the price of each bond after the decline in interest rates? Fill in the following table. Round your answers to two decimal places.

	Price @ 10%	Price @ 7%	Percentage Change
10-year, 10% annual coupon	$	$	%
10-year zero			%
5-year zero			%
30-year zero			%
$100 perpetuity			%