1. Nakashimu shipping bonds have 5.5 percent coupon bonds on the market with 20 years maturity. The bonds make semi-annual coupon payments. If the YTM on these bonds is 8 percent, what is the current bond price?

2. Ras Al-Khaima Incorporation wants to raise $5 billion by selling some coupon bonds at par. Comparable bonds in the market have 12.5 percent coupon rate paid on semi-annual basis., with 15 years to maturity, and yield to maturity is 14 percent. What is the current bond price?