Req 1:

Lycan, Inc., has 6 percent coupon bonds on the market that have 9 years left to maturity. The bonds make annual payments.

Required:

If the YTM on these bonds is 8 percent, what is the current bond price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Req 2:

The Timberlake-Jackson Wardrobe Co. has 7 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments.

Required:

If the bond currently sells for $1,038.50, what is its YTM? (Do not round intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)