### Bonds: current market price, YTM, fair market interest rate, value of longer maturities

1-Callaghan Motors' bonds have 10 years remaining to maturity. Interest is paid annually, they have a $ 1,000 par value, the coupon interest rate is 8%, and the yield to maturity is 9%. What is the bond's current market price? 2-Nungesser Corporation's outstanding bonds have a $ 1,000 par value, a 9% semiannual coupon, 8 year