1. A 100-year corporate bond has a coupon rate of 9% with semi-annual payments. If the current value of the bond in the marketplace is $400, then what is the Yield-to-Maturity (YTM)?

2. How much do you pay for a zero coupon government bond that has a term of 30 years, an interest rate of 9%, and a par value of $1000.

3. A taxable bond has a yield of 9% and a municipal bond has a yield of 4.6%. If you are in a 23% tax bracket, which bond do you prefer?