1)Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid

annually, the bonds have a $1,000 par value, and the coupon interest rate is 8%. The

bonds have a yield to maturity of 9%. What is the current market price of these

bonds?

2)Wilson Corporation's bonds have 12 years remaining to maturity. Interest is paid

annually, the bonds have a $1,000 par value, and the coupon interest rate is 10%. The

bonds sell at a price of $850. What is their yield to maturity?