$($Related to Checkpoint $9\mathrm{.}4)($Bond valuation$)$ A bond that matures in $17$ years has a $$1,000$ par value. The

annual coupon interest rate is $11$ percent and the market's required yield to maturity on a comparable$-$risk bond is $15$

percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it

paid interest semiannually?

a$.$ The value of this bond if it paid interest annually would be $

$($Round to the nearest cent.$)$

b$.$ The value of this bond if it paid interest semiannually would be $

$($Round to the nearest cent.$)$