The Florida Investment Fund buys $98$ bonds of the Gator Corporation through a broker. The bonds pay $12$ percent annual interest. The yield to maturity $($market rate of interest$)$ is $14$ percent. The bonds have a $20-$year maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Using an assumption of semiannual interest payments:

a$.$ Compute the price of a bond.

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

Price of the bond

b$.$ Compute the total value of the $98$ bonds.

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

Total value