A) Calculate the value of a bond that will mature in 17 years and has a 1,000 face value. The annual coupon interest rate is 9 percent, and the investor's required rate of return is 11 percent. The value of the bond is nothing. (Round to the nearest cent.)

B) At the beginning of the year, you bought a $1000 par value corporate bond with an annual coupon rate of 16 percent and a maturity date of 14 years. When you bought the bond, it had an expected yield to maturity of 13 percent. Today the bond sells for 1,350.

a. What did you pay for the bond?

b. If you sold the bond at the end of the year, what would be your one-period return on the investment? Assume that you did not receive any interest payment during the holding period.