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A GM and a Ford bond both have 4 years to maturity, a $1,000 par value, a BB rating, and pay interest semiannually. GM has

A GM and a Ford bond both have 4 years to maturity, a $1,000 par value, a BB rating, and pay interest semiannually. GM has a coupon rate of 6.2%, while Ford has a coupon rate of 5.9%. Attempt 2/5 for 10 pts. Part 1 The GM bond trades at 93.29 (percent of par).

What is the yield to maturity (YTM)? 3+ decimals. (Show calculations)

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