Problem $7\mathrm{.}31$ Valuing Bonds $($LO$2)$

The Metchosin Corporation has two different bonds currently outstanding. Bond $M$ has a face value of $$50,000$ and matures in $20$

years. The bond makes no payments for the first six years, then pays $$1,600$ every six months over the subsequent eight years, and

finally pays $$1,900$ every six months over the last six years. Bond N also has a face value of $$50,000$ and a maturity of $20$ years; it

makes no coupon payments over the life of the bond. The required return on both these bonds is $10\%$ compounded semiannually,

what is the current price of bond M and bond N $?($Do not round intermediate calculations. Round the final answers to $2$ decimal

ploces.$)$