The Florida Investment Fund buys 94 bonds of the Gator Corporation through a broker. The bonds pay 10 percent annual interest. The yield to maturity (market rate of interest) is 12 percent. The bonds have a 20-year maturity. Use Appendix B and Appendix D. Using an assumption of semiannual interest payments:

(a)	Compute the price of a bond. (Round "PV Factor" to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.)

Price of the bond

$

(b)	Compute the total value of the 94 bonds. (Round "PV Factor" to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.)

Total value

$