A finance major wants to study credit rating and its impact on yield to maturity. She has created the following table that summarizes the yield to maturity on several one-year, zero coupon securities:

SecurityYTM (Yield To Maturity)

Treasury 2.42%

Johnson and Johnson (AAA) 2.62%

3M Corporation (AA) 3.02%

Amazon (A)3.42%

Fed Ex Corporation (BBB) 3.92%

What is the price (as a % of face value) of a one-year, zero-coupon Johnson and Johnson bond?

What is the credit spread on AA bonds?