Things Get Messi Enterprises is issuing new bonds for a capital budgeting project. The bonds will have $25\mathrm{.}00$ year

maturities with a coupon rate of $6\mathrm{.}50\%$ APR with semi$-$annual coupon payments $($assume a face value of $$1,000$ on the

bond$).$

The current market rate for similar bonds is $9\mathrm{.}90\%$ APR. The company hopes to raise $$45\mathrm{.}00$ million with the new issue.

Based on the current market rate, what will a new bond sell for?

Answer format: Currency: Round to: $2$ decimal places.

A couple purchased a bond for $$950\mathrm{.}00$ three years ago. The bond pays $7\mathrm{.}375\%$ APR with semi$-$annual coupons with a

face value of $$1,000.$ Currently, the bond has exactly $10$ years until maturity, and investors seek a return of $12\mathrm{.}00\%$ APR

on bonds of similar risk.

What is the current price of the bond?

Answer format: Currency: Round to: $2$ decimal places.