1. What is the value of a bond that has a par value of $1,000, a coupon rate of 17.24 percent (paid annually), and that matures in 8 years? Assume a required rate of return on this bond is 13.53 percent.

2. General Mills has a $1,000 par value, 12-year bond outstanding with an annual coupon rate of 3.60 percent per year, paid semiannually. Market interest rates on similar bonds are 12.70 percent. Calculate the bonds price today.

3. Black Water Corp. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 25 years and a yield to maturity of 8.29 percent, compounded semi- annually. What is the current price of the bond?

4. What is the yield to maturity of a 23-year bond that pays a coupon rate of 8.25% per year, has a $1,000 par value, and is currently priced at $1,298.05? Assume semi-annual coupon payments. Round the answer to two decimal places in percentage form