Perpetual Life Corp. has issued consol bonds with coupon payments of $$105.($Consols pay interest forever and never mature. They are perpetuities.$)$

$$If the required rate of return on these bonds at the time they were issued was $10\mathrm{.}4\%,$ at what price were they sold to the public?

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$$If the required return today is $3\mathrm{.}3\%,$ at what price do the consols sell?

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