Calculate the present value of a $1,400 discount bond with 6 years to maturity if the yield to maturity is 4%. The present value is $ (Round your response to two decimal places.) If the interest rate is 15%, what is the present value of a security that pays you $1,125 next year, $1,210 the year after, and $1,334 the year after that? Present value is $ (Round your response to the nearest penny.)