1) What is the times interest earned ratio if a companys EBIT is $3,160,000 and the total interest payments are $790,000? (Round your answer to 2 decimal places.)

Times interest earned ration = ?

2)You have a $1,000, 8.6% bond that matures in five years and pays interest annually. You want to sell it, but the current interest rate on a similar investment that matures in five years is now paying 6.6% interest.

What is the current value of your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)