Consider a bond $($with par value $=$$$1,000)$ paying a coupon rate of $7\%$ per year semiannually when the market interest rate is only $3\%$

per half$-$year. The bond has three years until maturity.

a$.$ Find the bond's price today and six months from now after the next coupon is paid. $($Round your answers to $2$ decimal places.$)$

Answer is not complete.

b$.$ What is the total $(6-$month$)$ rate of return on the bond? $($Do not round intermediate calculations. Round your answer to the nearest

whole percent.$)$