1. Suppose a zero-coupon bond with 11 years to maturity and $1,000 face value has a yield to maturity of 6%, what is the price of the bond? Round to the nearest cent.

2. Summit systems will pay a dividend of $46 in one year. If you expect Summits dividends to grow 6.0% per year, what is its share price if its equity cost capital is 12%? The price per share is $______

There is a 1% tolerance for errors. For example, if the correct answer is 1.00, then any number between 0.99 and 1.01 will be correct answers.