1. Today, you consider buying an investment that will generate annual real cash flows of $1,200 for 15 years. The required return for the investment is 4.25% per year. The annual inflation rate is 1.75%. what is the maximum price you will be willing to pay for this investment?

2. Calculate the price of the first bond in the table below. Assume that the yield is 2.51%, coupons are paid semi-annually and the number of periods until maturity (t) is 8.2086. Enter only numbers and decimals in your response. Round to 2 decimal places.

Please show step by step and answer both to get an upvote.