1. Ashburn Corporation issued 20-year bonds two years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently sell for 110 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

2. Nikita Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $954. At this price, the bonds yield 6.2 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.