10. Bond listings and yield spreads The following bond list is from the business section of a newspaper on January 1, 2016. Notice that each bond shown matures on January 1 in 5, 10, or 30 years. Each bond shown pays a semiannual coupon and the coupon rate is in the column labeled Coupon The Last Price and Last Yield columns indicate each bond's price and YTM at the end of trading. EST Spread indicates the bond's spread above the relevant US Treasury benchmark, given as a percentage. UST indicates which US Treasury security maturity is the relevant benchmark for each bond. EST Volume shows the number of bonds traded during the day. Prices are stated relative to a par value of $100. Fill in the nominal YTM for Pickman Inc.'s bonds. (Note: Do not round your intermediate calculations.) Last Yield UST (Years) Company Schubert Inc Coupon 8.13% 9.63% Maturity 01-01-2026 Last Price $82.25 EST Spread 6,20% 11.11% 10 EST Volume (1000s) 72,070 65,275 01-01-2046 $77.11 12.5896 7.15% 30 01-01-2021 $95.18 5.62% 1.37% 5 59,277 Chapman Inc. Rust Inc. Murphy & Co. Pickman Inc. 4.50% 5.38% 7.75% $101.02 01-01-2021 5.14% 5 0.89% 57,465 56,305 01-01-2026 $92.36 10 4.01% If Chapman Inc. wants to issue new 30-year bonds today, what coupon rate would the bonds have to pay to be issued at par? UST (Years) EST Volume (1000s) Last Yield Maturity 01-01-2026 Coupon 8.1396 Company Schubert Inc. Last Price $82.25 EST Spread 6.20% 10 72,070 11.11% 30 65,275 7.15% 12.58% $77.11 9.63% Chapman Inc. 01-01-2046 01-01-2021 5 59,277 1.37% $95.18 5.62% 4.50% Rust Inc. 5 57,465 5.38% 01-01-2021 $101.02 0.89% 5.1496 Murphy & Co. Pickman Inc. 10 56,305 7.75% 01-01-2026 4.0196 $92.36 8.68% h rate would the bonds have to pay to be issued at par? If Chapman Inc. wants to issue new 30-year bonds today, w 8.56% 11.65% 8.92% 10.15% 8.80% 12.05% 12.58% If Chapman Inc. wants to issue new 30-year bonds today, what coupon rate would the bonds have to pay to be issued at par? 11.65% 10.15% 12.05% 12.58% Which bond is trading at a premium? Pickman Inc. Schubert Inc. Chapman Inc. Murphy & Co