1. The 7.9 percent bonds issued by Modern Kitchens pay interest semiannually, mature in eight years, and have a $1,000 face value. Currently, the bonds sell for $950. What is the yield to maturity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

2. You are purchasing a 19-year, zerocoupon bond. The yield to maturity is 6.14 percent and the face value is $1,000. What is the current market price? Assume semiannual compounding. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

3. A bond has a yield to maturity of 5.06 percent. If the inflation rate is 2.0 percent, what is the real rate of return on the bond?