1.Crane, Inc., has a bond issue maturing in seven years that is paying a coupon rate of9.0percent (semiannual payments). Management wants to retire a portion of the issue by buying the securities in the open market.

If it can refinance at7.5percent, how much willCranepay to buy back its current outstanding bonds?(Round answer to 2 decimal places, e.g. 15.25.)

2.WildhorseCorp. management plans to issue seven-year zero coupon bonds. It has learned that these bonds will sell today at a price of $445.16.

What is the yield to maturity on these bonds?(Round answer to 3 decimal places, e.g. 15.251%.)

3.OrioleCorp. has five-year semi-annual bonds outstanding that pay a coupon rate of9.0percent, these bonds are priced at $1,066.06.(Round answers to 2 decimal places, e.g. 15.25%.)

a.The yield to maturity on these bonds is _________ %

b.Assume semiannual coupon payments,

the effective annual yield would be __________ %?