1.One More Time Software has 9.4 percent coupon bonds on the market with 11 years to maturity. The bonds make semiannual payments and currently sell for 122.4 percent of par.

a.What is the current yield on the bonds is percent,

b. the YTM is percent, and

c.The effective annual yield percent?

2.Both Bond Sam and Bond Dave have 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 5 years to maturity, whereas Bond Dave has 11 years to maturity. (Do not round your intermediate calculations.)

Requirement 1:

(a)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Sam?

(b)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?

Requirement 2:

(a)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Sam be then?

(b)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Dave be then?

3.Ngata Corp. issued 12-year bonds 2 years ago at a coupon rate of 9.2 percent. The bonds make semiannual payments. If these bonds currently sell for 104 percent of par value, what is the YTM?

4.Grohl Co. issued 16-year bonds a year ago at a coupon rate of 10 percent. The bonds make semiannual payments. If the YTM on these bonds is 10 percent, what is the current bond price?