Achi Corp has preferred stock with an annual dividend of $2.81. If the required return on Achi's preferred stock is 7.8%, what is its price? (Hint: For a preferred stock, the dividend growth rate is zero.) Achi's stock price will be $. (Round to the nearest cent.) Suppose a 10 -year, $1,000 bond with an 8.8% coupon rate and semi-annual coupons is trading for a price of $1,034.31. a. What is the bond's yield to maturity (expressed as an APR with semi-annual compounding)? b. If the bond's yield to maturity changes to 9.7% APR, what will the bond's price be? a. What is the bond's yield to maturity (expressed as an APR with semi-annual compounding)? The bond's yield to maturity is \%. (Round to two decimal places.) b. If the bond's yield to maturity changes to 9.7% APR, what will the bond's price be? The new price for the bond will be $. (Round to the nearest cent.)