1. Lucy sold at $39 per share, CSCO shares who were purchased a year ago at $31. During the year the stock paid quarterly dividends of $.32 per share. If tax rate on capital gains is 20% and marginal tax rate is 32%, how much is the after tax total return?

PRESENT YOUR ANSWER AS PERCENT, ROUNDED TO ZERO DECIMAL PLACES

DON'T USE THE PERCENTAGE SYMBOL, EX IF THE ANSWER IS 40% JUST WRITE 40

2. Calculate the convexity of a $1,000 par value bond that pays 7.95% coupon rate (interest rate) and matures in 5 years if required rate of return is 12%

DO NOT MAKE INTERMEDIATE ROUNDING

FINAL ANSWER ROUNDED TO ZERO DECIMAL PLACES