a) Suppose that todays date is April 15. A bond with a 9% coupon paid semiannually every January 15 and July 15 is listed in The Wall Street Journal as selling at an ask price of 1,011.429. If you buy the bond from a dealer today, what price will you pay for it? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Invoice price ? $

b)

A coupon bond that pays interest of $68 annually has a par value of $1,000, matures in 5 years, and is selling today at a $77.25 discount from par value. The current yield on this bond is _________.