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Part $1$

$($Bond

valuation$)$

Xerox issued bonds that pay

$ $67\mathrm{.}50$$$67\mathrm{.}50$

in interest each year and will mature in

$55$

years. You are thinking about purchasing the bonds. You have decided that you would need to receive a return of

$55$

percent on your investment. What is the value of the bond to$$ you, first assuming that the interest is paid annually and then$$ semiannually?

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Part $1$

a$.$ If the interest is paid$$ semiannually, the value of the bond is

$$$enter your response here.

$($Round to the nearest$$ cent.$)$