An investor is considering the purchase of a(n) 6.750 %,18-year corporate bond that's being priced to yield 8.750 %. She thinks that in a year, this bond will be priced in the market to yield 7.750 %. Using annual compounding, find the price of the bond today and in 1 year. Next, find the holding period return on this investment, assuming that the investor's expectations are borne out.