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9. A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and sells for $980. What is its yield

9.

A bond has a $1,000 par value, 12 years to maturity, and an 8% annual coupon and sells for $980.

What is its yield to maturity (YTM)? Round your answer to two decimal places.
%
Assume that the yield to maturity remains constant for the next two years. What will the price be 2 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.
$

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