A General Power bond carries a coupon rate of 9.5%, has 9 years until maturity, and sells at a yield to maturity of 8.5%. (Assume annual interest payments.)

What interest payments do bondholders receive each year?

At what price does the bond sell?

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

What will happen to the bond price if the yield to maturity falls to 7.5%?

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