A General Power bond carries a coupon rate of 8.4%, has 9 years until maturity, and sells at a yield to maturity of 7.4%. (Assume annual interest payments.)

1. What interest payments do bondholders receive each year?

2. At what price does the bond sell?

   Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

3. What will happen to the bond price if the yield to maturity falls to 6.4%?

4. ****PLEASE SOLVE ALL PARTS USING EXCEL FORMULAS. Thank you.