a. Suppose you structured a bond deal for Kanye West that paid him $20 million upfront, with future royalties and streaming revenues from his past albums going towards payments to bondholders. Each bond has a face value of $1,000 and a coupon rate of 6.6% with semi-annual coupons. If the bonds have 12 years remaining until maturity and the current yield to maturity is 8.6%, how much is the bond worth? Round to the nearest cent.

b.A Japanese government bond with a $1,000 face value has a 1.32% annual coupon rate. The bond matures in 9 years. The current YTM on the bond is -0.8% (negative!). What is this bond worth? Round to the nearest cent.

c.A Tesla coupon bond with a face value of $1,000 has a coupon rate of 5% with annual coupons and it will mature in 5 years. If it is currently trading at $813.5, what is its yield-to-maturity? Round to the tenth of a percent (e.g., 4.32% = 4.3) [Hint: Use Excel's "rate" function as explained in the text. Make sure you set the cell to show decimal places.]