<1> A UK government bond has exactly three years to maturity. The bond makes semi-annual coupon payments of 2.50 and has a par value of 100. What is the price of the bond if the semi - annual yield to maturity on the bond is 1.75%?

a. 102.50

b. 100.00

c. 95.00

d. 103.00

e. 104.25

<2> Mull PLC has published its financial statements for the year ending 31 December 2021 which show revenue 110 million, gross profit 45 million, operating expenses 20m, finance costs of 4 million and tax expenses of 3 million. What is the operating margin (to 1 decimal place)?

a. None of these answers

b. 16.4%

c. 22.7%

d. 40.9%

e. 19.1%

<3> Mersey plc has reported its financial results for the year ending 31 December 2021. The income statement shows revenue of 255 million, gross profit of 100 million, operating expenses of 75 million, finance costs of 5 million and tax expenses of 6 million. What is the net margin for the year ending 31 December 2021 (to 1 decimal place)?

a. 7.8%

b. 5.5%

c. 9.8%

d. 39.2%

e. 27.1%