3a- What is the current yield for a bond that has a coupon rate of 5.5% paid annually, a par value of $1000, and 22 years to maturity? Investors require a return of 9.6% from the bond. (Round to 100th of a percent and enter as a percentage, e.g. 12.34% as 12.34)

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3b- Your client is considering the purchase of a bond that is currently selling for $1161.83. The client wants to know what annual rate of return can they expect to earn on the bond. The bond has 7 years to maturity, pays a coupon rate of 3.8% (payments made semi-annually), and a face value of $1000. (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)

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3c- How much would you pay for a zero-coupon bond with a par value of $1000, a maturity of 12 years, if your required rate of return is 13.5%? Assume annual discounting. (Round your answer to the nearest penny.)

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