2.00 Flog question Bond X is noncallable and has 30 years to maturity, an 11% annual coupon, a $1,000 par value, and currently selling for $1,100; if you buy it, you plan to hold it for 10 years. You (and the market) have expectations that in 10 years, the yield to maturity on a 20-year bond with similar risk will be 9.0%. If you decide to purchase the bond today and sell it after 10 years, what is your required return on Bond X? (10 points) Step 1: = 9 % FV= 1000 N= 20 PMT= 110 PV= -1182.57 Step 2: FV= 1182.57 PV=-1100 N=10 PMT= 110 JE 10.46 %