Question 17 and 18

Weiga Enterprises issued a $800 face value bond that will mature in eight years. Similar bonds are yielding 8%, and the bond is currently selling for $1292.65. Compute the coupon rate on this bond. Round intermediate calculations to four decimal places. Round the final answer to 2 decimal places. (In the real world, we generally aren't asked to find coupon rates but this qives you practice with the bond pricing formula.) (Hint: Substitute and solve for the coupon payment.) No \% sign on your answer. Write two decimal places in your answer. QUESTION 18 Yalic Inc's bond has 25 years to go until maturity. The bond is currently selling for $1,182.56. Currently market rates are 10%. What is the coupon rate for this bond? Round intermediate calculations to four decimal places. Round the final answer to 2 decimal places. (In the real world, we generally are not asked to find coupon rates but this gives you practice with the bond pricing formula.) (Hint: Substitute and solve for the coupon payment.) No \% sign on your answer. TWO DECIMAL places must be included in your