9- A corporate note promises to make the following payments: 1 year from today it will pay $15,000 and 5 years from today it will pay $10,000 . What is this note's Macaulay Duration if the appropriate discount rate is 8% A. Non of these B. 3.10 C. 5 D. 2.89 10- A portfolio manager is considering the purchase of a bond with a 5% coupon rate that pays interest annually and matures in twenty years. If the required rate of return on the bond is 5.5%, the price of the bond per 100 of par value is: A. $154.18 B. $98.65 C. $106.41 D. Non of these 11- The spread component of a specific bond's yield-to-maturity is least likely impacted by changes in A. Its quality rating . none of the answers here C. Inflation in its denominating currency D. its tax status 12- Bond A is priced at $100.00, has a 6% coupon rate and 2 years to maturity. Bond B is priced at $101.886, has a 5% coupon rate and 2 years to maturity. Bond C is priced at $97.327, has a 5% coupon rate and 3 years to maturity.

of the three bonds, which bond will likely experience the smallest percent change in price if the market discount rates for all three bonds increased 100 basis points ? A. Bond A B. Bond B C. Bond C D. Non of these