part a.

Madsen Motors's bonds have 25 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 11%; and the yield to maturity is 7%. What is the bond's current market price? Round your answer to the nearest cent.

$

part b.

Nesmith Corporation's outstanding bonds have a $1,000 par value, a 7% semiannual coupon, 11 years to maturity, and a 10% YTM. What is the bond's price? Round your answer to the nearest cent.

$