1. Y3K, Inc., has sales of $6,349, total assets of $2,965, and a debt–equity ratio of 1.20. If its return on equity is 15 percent, what is its net income? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

2. Nunavet Ocean Cruises sold an issue of 12-year $1,000 par bonds to build new ships. The bonds pay 4.85% interest, semiannually. Today's required rate of return is 9.7%. How much should these bonds sell for today? Round off to the nearest $1. How do you get the answer using BA Plus 2.