1 . On December 20 , 2014 , The Nippon Telegraph & Telephone Corporation ( NI I ) issued $ 1 billion of 10 - year debentures , paying a 4 3/4%/0 annual coupon , due December 20 , 2024 . They were initially priced at par , with principal repaid at maturity . NII bonds are rated AAA . A . What was the yield to maturity of NII's debentures at the time of issuance ? What would it have been if the bonds were priced at 99 instead of 100 ( i.e. at 99%6 of face value ) ? At 101 instead of 100 ?` B . By 2016 vields on AAA ven debt maturing in 8 years had dropped to 3. 00% . Given this yield to maturity , at what price should the NII debentures have been selling ?"