Please answer BOTH questions. Please show steps. The answer for both are given. I just need to see the steps for both. Thank you!

8. A major auto manufacturer has experienced a market re-evaluation lately due to a number of lawsuits. The firm has a bond issue outstanding with 15 years to maturity and a coupon rate of 8% (paid semiannually). The required rate has now risen to 16%. At what price can these securities be purchased on the market? [5549.69] 9. What is the value today of a "mortgage bond" that pays monthly coupons of $500, has a face/maturity value of $100,000, and matures in 30 years if the appropriate market rate is 7.20% for these bonds? [73660.68+11607.19=85267.87]