A. (Bond valuation) ExxonMobil 11-year bonds pay 9 percent interest annually on a $1,000 par value. If the bonds sell at $775, what is the bonds' expected rate of return?

The bonds' expected rate of return is _____%. (Round to two decimal places.)

B. (Bond valuation) Calculate the value of a bond that will mature in 12 years and has a $1,000 face value. The annual coupon interest rate is 13 percent, and the investor's required rate of return is 12 percent.

The value of the bond is $_____. (Round to the nearest cent.)