Jolly Corporation has two different bonds currently outstanding. Bond M has a face value of $2,000 and matures in 20 years. The bond makes no payment for the first six years, then pays $90 every six months over the subsequent eight years, and finally pays $130 every quarterly over the last six years. Bond N also has a face value of $2,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. If the effective yield-to-maturity on both bonds is 5.4729%, what are the current price of bond M and bond N?

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