a. Madsen Motors's bonds have 12 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 10%, and the yield to maturity is 12%. What is the bond's current market price? Round your answer to the nearest cent. _______$

b. A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080. What is its yield to maturity (YTM)? Round your answer to two decimal places. _____ %..... Assume that the yield to maturity remains constant for the next five years. What will the price be 5 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. _____$