6. Yield, Price, and YTM. A corporate bond maturing in 15 years with a coupon rate of 9.9 percent was purchased for $980.

(a) What is its current yield?

(b) What will be its selling price in two years if comparable market interest rates drop 1.9 percentage points?

(c) Calculate the bond’s YTM using Equation (14.6) or the Garman/Forgue companion website.