You have decided to sell a 5 percent semiannual coupon bond two months after the last coupon payment. The bond is currently selling for $973.25. Answer the following questions about the bond. Assume that the par value of the bond is $1,000. Round your answer to nearest cent.

1. What is the clean price of the bond? $ ________
2. What is the dirty (full) price of the bond? $ ________
3. Explain how the clean and dirty prices of the bond are relevant to the buyer of the bond.