Two bonds have par values of$$ $$1,000.$ One is a $5\mathrm{.}5\%,16-$year bond priced to yield $9\mathrm{.}0\%.$ The other is$$ a$($n$)7\%,24-$year bond priced to yield $5\mathrm{.}5\%.$ Which of these two has the lower$$ price? $($Assume annual compounding in both$$ cases.$)$

$1.$The$$ price, PV$,$ of the $5\mathrm{.}5\%,16-$year bond is $$$$...$

$2.$ The$$ price, $$PV$,$ of the $7\%,24-$year bond is $$$$...$

$3.$ Which of these two has the lower$$ price?$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$