Q 1.What is the value of a bond that has a par value of $1,000, a coupon rate of 9.26 percent (paid annually), and that matures in 7 years? Assume a required rate of return on this bond is 11.44 percent. Round the answer to two decimal places. 2.Fresh Water, Inc. sold an issue of 12-year $1,000 par value bonds to the public. The bonds have a 10.04 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 12.56 percent. What is the current market price of the bonds? Round the answer to two decimal places.

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