1. You recently invested in a local company and are expecting income of $15,000 (in real dollars) each year for the next three years. Inflation is 6.4384% annually, and the appropriate nominal discount rate is 8.0000%. Calculate the present value of your expected income.

2. Cami bought a zero-coupon Tasla bond recently. The face value was $1,000, and the price quote from Cami's broker was 43.30. How much did she actually pay, based on the quote?