1. Whipple Corp. just issued 275,000 bonds with a coupon rate of 5.99 percent paid semiannually that mature in 20 years. The bonds have a YTM of 6.43 percent and have a par value of $2,000. How much money was raised from the sale of the bonds? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount.)

Voltanis Corp. has preferred stock outstanding that will pay an annual dividend of $3.69 every year in perpetuity. If the stock currently sells for $97.63 per share, what is the required return?