1. Workman Software has 11.8 percent coupon bonds on the market with 13 years to maturity. The bonds make semiannual payments and currently sell for 147.2 percent of par.

a. What is the current yield on the bonds?

b. The YTM?

c. The effective annual yield?

2. Broke Benjamin Co. has a bond outstanding that makes semiannual payments with a coupon rate of 5.8 percent. The bond sells for $997.27 and matures in 16 years. The par value is $1,000. What is the YTM of the bond?

3. A 25-year, semiannual coupon bond sells for $975.11. The bond has a par value of $1,000 and a yield to maturity of 6.87 percent. What is the bond's coupon rate?