Smith purchased a 10 year 8%, face value 1000 bond with semiannual coupons and yield rate 6%. After 7 years, he sells the bond to Joe such that Smith's actual nominal yield rate is 7.2%. 1. What is Smith's sell price? Enter your answer for the sell price in the following blank. Keep two decimal places. 2. Use the following Salesman's formula to estimate Joe's annual nominal yield rate. nFr +C P j= n(P + C)/2