A $10,000 6% callable corporate bond with 30 years to maturity was issued in May of 2011. The bond's call protection period is 10 years. When its call protection expires in May of 2021, the bond is immediately callable at a premium of 3%. The yields on similar bonds (similar default risk, maturity, and liquidity) are currently 4%. If the bond gets called in May of 2021, find the new semiannual coupon payment. Please, assume a face value of $10,000 and express your answer in dollars and cents, but omit the $ sign.

Refer to the bond described in Q6. If the bond gets called in May 2021, find the resulting reduction in the semiannual coupon payment. Please, assume a face value of $10,000 and express your answer in dollars and cents, but omit the $ sign. If the coupon payments increase as a result of calling the bond, make sure to use a negative sign.