1.builtrite $1000 par, 6 5/8% coupon rate, 15 year maturity bond which is currently sellign for $1020. If jay purchases this bond for the quoted price and holds the bond for 5 years when the current market interest rates are 8%, what should he expect to sell the bond for?

2.$1000 par, 6 1/8% coupon rate, 15 year maturity bond which is currently selling for $1020. If jay required a return is 9%, what would he be willing to pay for the bultrite bond?

3.stock is currently selling for $40 and recently paid a dividend of $2. the stock has a projected constant growth rate of 12%. if you purchase the stock, what is your expected rate of return