$1.$ A bond has a $$1,000$ par value, $12$ years to maturity, and an $8\%$ coupon rate $($annual coupon payment$).$ You purchased the bond today for $$980.$

a$.$ What is its yield to maturity?

b$.$ You plan to sell the bond after three years, and the required rate of return at that time will be $10\%.$ What is your holding period return? please do not use excel!!!