Brief Exercise G-27 Using a financial calculator, solve for the unknowns in each of the following situations. (a) On June 1, 2019, Jennifer Lawrence purchases lakefront property from her neighbor, Josh Hutcherson, and agrees to pay the purchase price in 7 payments of $11,500 each, the first payment to be payable June 1, 2020. (Assume that interest compounded at an annual rate of 6.30% is implicit in the payments.) What is the purchase price of the property? (Round answer to 2 decimal places, e.g. 25.25.) Purchase price of the property $ (b) On January 1, 2019, Gerrard Corporation purchased 200 of the $1,000 face value, 7% coupon, 10-year bonds of Sterling Inc. The bonds mature on January 1, 2029, and pay interest annually beginning January 1, 2020. Gerrard purchased the bonds to yield 9.50%. How much did Gerrard pay for the bonds? (Round answer to 2 decimal places, e.g. 25.25.) Gerrard paid for the bonds Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: 1 of 4 used SAVE FOR LATER SUBMIT ANSWER % Earn Maximum Points available only if you answer this question correctly in two attempts or less