Your answer is incorrect. Using a financial calculator, solve for the unknowns in each of the following situations. (a) On June 1, 2021, Helen Lawrence purchases lakefront property from her neighbor, Josh Hutcherson, and agrees to pay the purchase price in 8 payments of $18,000 each, the first payment to be payable June 1,2022 . (Assume that interest compounded at an annual rate of 6.20% is implicit in the payments.) What is the purchase price of the property? (Round answer to 2 decimal places, e.g. 25.25.) The purchase price of the property $ (b) On January 1, 2021, Sarasota Corp. purchased 500 of the $1,000 face value, 7\% coupon, 10-year bonds of Metlock, Inc. The bonds mature on January 1, 2031, and pay interest annually beginning January 1, 2022. Sarasota purchased the bonds to yield 8.65%. How much did Sarasota pay for the bonds? (Round answer to 2 decimal places, e.g. 25.25.) Sarasota pay for the bonds $ eTextbook and Media Attempts: 1 of 5 used