Slush Corporation has two bonds outstanding, each with a face value of $3.9 million. Bond A is secured on the companys head office building; bond B is unsecured. Slush has suffered a severe downturn in demand. Its head office building is worth $1.19 million, but its remaining assets are now worth only $2 million. If the company defaults, what payoff can the holders of bond B expect?

Sure Tea Company has issued 4.8% annual coupon bonds that are now selling at a yield to maturity of 5.50%. If the bond price is $874.94, what is the remaining maturity of these bonds?