The Sunland Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 9.925 percent. The current market rate for similar securities is 11.60 percent. Assume that the face value of the bond is $1,000.

What will be the bond's price if rates in the market (i) decrease to 9.60 percent or (i) increase to 12.6 percent? (Round answers to 2 decimal places, e.g. 15.25.) Bond's price (i) Decrease to 9.60 percent $ (ii) Increase to 12.6 percent $