Kilgore Natural Gas has $1,000 par value bond outstanding that pays 18 percent annual interest. The current yield to maturity on such bonds in the market is 12%. Use appendix B and appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Compute the price of the bonds for these maturity dates: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.)

a.) 25 years -- bond price?

b.) 18 years --

c.) 1 year --