To finance a new line of product, Larissa Toys has issued a bond with a par value of $1,000, coupon rate of 8 percent, and maturity of 30 years. (20p)

1. Compute the price of the bond if the required return on the bond is 10% and interest is paid annually.
2. Compute the price of the bond if the required return on the bond is 10% and interest is paid semi-annually.
3. !!!will not be solved with excel!!!