(Related to Checkpoint 9.1) (Floating-rate loans) The Bensington Glass Company entered into a loan agreement with the firm's bank to finance the firm's working capital. The loan called for a floating rate that was 25 basis points (0.25 percent) over an index based on LIBOR. Inaddition, the loan adjusted weekly based on the closing value of the index for the previous week and had a maximum annual rate of 2.23 percent and a minimum of 1.74 percent. Calculate the rate of interest for weeks 2 through 10 LIBOR Date Week 1 1.96% Week 2 1.68% Week 3 1.53% Week 4 1.33% Week 5 1.59% Week 6 1.65% Week 7 1.66% 1.93% Week 8 Week 9 1.95% (Related to Checkpoint 9.3) (Bond valuation) Calculate the value of a bond that matures in 19 years and 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 12 percent. The value of the bond is $ (Round to the nearest cent.)