Determine the present value of the bonds cash flows if the required rate of return is 18.8 percent. (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.)

Present value

$ 1,000

How would your answer change if the required rate of return is 11.5 percent? (Round factor value calculations to 5 decimal places, e.g. 0.52755. Round other intermediate calculations to 2 decimal places, e.g. 52.75. Round final answer to nearest dollar amount.) Present value $____.