adsen Motors's bonds have 14 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 12%, and the yield to maturity is 15%. What is the bond's current market price? Round your answer to the nearest cent.

A bond has a $1,000 par value, 10 years to maturity, and a 7% annual coupon and sells for $985.

1. What is its yield to maturity (YTM)? Round your answer to two decimal places.

   %

2. Assume that the yield to maturity remains constant for the next three years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

   $