2. A bond has a $1,000 par value, 12 years to maturity, and a 9% annual coupon and sells for $1,110.

1. What is its yield to maturity (YTM)? Round your answer to two decimal places.

   %

2. Assume that the yield to maturity remains constant for the next four years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

   $

3. Last year Janet purchased a $1,000 face value corporate bond with an 11% annual coupon rate and a 20-year maturity. At the time of the purchase, it had an expected yield to maturity of 13.53%. If Janet sold the bond today for $966.17, what rate of return would she have earned for the past year? Do not round intermediate calculations. Round your answer to two decimal places.