5. Paccione Corporation has $1,000 par bonds outstanding with 16 years to maturity that currently sell for $726.17. The bonds yield 10 percent and pay coupons annually.

What must the coupon rate be on the bonds?

6. Paccione Corporation has a bond issue outstanding with 9 years to maturity, a coupon rate of 7.5 percent, and a $1,000 par value. The bonds pay coupons semi-annually. Bonds with similar risk and maturity are currently yielding 11 percent.

What is the current price of a bond?