A $1,000 par value bond has a 13 percent coupon, which is paid on a semiannual basis. It matures in either 1 year or 10 years. Current yields on similar bonds are either 4 percent or 16 percent.

a. Calculate the price of the bond for the four possibilities. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answer to 2 decimal places.)

		Price of the bond
1 year	4 percent	$
1 year	16 percent	$
10 years	16 percent	$
10 years	4 percent	$