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A $16,000 bond redeemable at par on July 17, 2013 is purchased on May 06, 2007. Interest is 8.6% payable semi-annually and the yield is

A $16,000 bond redeemable at par on July 17, 2013 is purchased on May 06, 2007. Interest is 8.6% payable semi-annually and the yield is 8.9% compounded semi-annually.

(a) What is the cash price of the bond?

(b) What is the accrued interest?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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