A BBB-rated corporate bond has a yield to maturity of 8.3%. A U.S. Treasury security has a yield to maturity of 6.6%. These yields are quoted as APRs with semiannual compounding. Both bonds pay semi-annual coupons at a rate of 6.8% and have five years to maturity.

a. What is the price (expressed as a percentage of the face value) of the Treasury bond? b. What is the price (expressed as a percentage of the face value) of the BBB-rated corporate bond? c. What is the credit spread on the BBB bonds?