1) Michelle Walker is looking to invest in a three-year bond that makes semi-annual coupon payments at a rate of 5.225 percent. If these bonds have a market price of $990.00, what yield to maturity can she expect to earn?

2) Jason Allen bought 10-year, 10.9 percent coupon bonds issued by the U.S. Treasury three years ago at $909.77. If he sells these bonds, for which he paid the face value of $1,000, at the current price of $810.23, what is his realized yield on the bonds? Assume similar coupon-paying bonds make annual coupon payments.