Bond valuation

You are considering a 15-year, $1,000 par value bond. Its coupon rate is 8%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 10.66%, how much should you be willing to pay for the bond? Do not round intermediate steps. Round your answer to the nearest cent.

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Bond returns

Last year, Joan purchased a $1,000 face value corporate bond with an 10% annual coupon rate and a 10-year maturity. At the time of the purchase, it had an expected yield to maturity of 11.21%. If Joan sold the bond today for $1,054.74, what rate of return would she have earned for the past year? Round your answer to two decimal places.

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