22. Morin Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.5% on these bonds. What is the bond's price? A. $941.43 B. $1,016.74 C. $706.07 D. $1,054.40 E. $828.46 23. Sadik Inc.'s bonds currently sell for $1,120 and have a par value of $1,000. They pay a $105 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,100. What is their yield to call (YTC)?

A. 8.80% B. 9.80% C. 11.16% D. 7.35% E. 9.08%