$($Bond valuation$)$ Enterprise, Inc. bonds have an annual coupon rate of $12$

percent. The interest is paid semiannually and the bonds mature in $12$ years.

Their par value is $$1,000.$ If the market's required yield to maturity on

a comparable$-$risk bond is $15$ percent, what is the value of the bond? What is its

value if the interest is paid annually?

a$.$ The value of the Enterprise bonds if the interest is paid semiannually is $

$($Round to the nearest cent.$)$

b$.$ The value of the Enterprise bonds if the interest is paid annually is $

$($Round to the nearest cent.$)$