1.)Crayola Corp has an outstanding bond with a coupon rate of 3.1% per year which matures in 2040. If you require a rate of 4.2% per year on this bond, what is the value of the Crayola bond? (Of course the bond is par value $1000 and pays semi-annual coupon payments.)

2.)Walmart is considering issuing bonds. They estimate they will issue bonds similar to a recent bond issue. This bond has a quoted price of 107.0 ; this is the % of $1000. If an underwriter charges 1.8% in flotation charges, what is the Net Proceeds of the bond in $?