1. Callaghan Motors' bonds have 20 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 6%, and the yield to maturity is 9%. What is the bond's current market price? Round your answer to the nearest cent.
2. Could a company's change in net working capital be negative in a given year? Explain how this might come about. What about net capital spending??