A bond that matures in 20 years has a $1,000 par value. The annual coupon interest rate is 11 percent and the market's required yield to maturity on a comparable-risk bond is 18 percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it paid interest semiannually?

a.The value of this bond if it paid interest annually would be

$enter your response here. (Round to the nearest cent.)

b. The value of this bond if it paid interest semiannually would be

enter your response here (round to the nearest cent)