8) Madsen Motors's bonds have 20 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 9.5%; and the yield to maturity is 10%. What is the bond's current market price? Round your answer to the nearest cent.

9) A bond has a $1,000 par value, 15 years to maturity, and a 8% annual coupon and sells for $1,080.

a)What is its yield to maturity (YTM)? Round your answer to two decimal places.

b)Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

10)Nesmith Corporation's outstanding bonds have a $1,000 par value, a 6% semiannual coupon, 20 years to maturity, and an 10.5% YTM. What is the bond's price? Round your answer to the nearest cent.