Assume you purchased a high-yield corporate bond at its current market price of $910 on January 2, 2004. It pays 11.75 percent interest and it will mature on December 31, 2013, at which time the corporation will pay you the face value of $1,000.

(a)	Determine the current yield on your bond investment at the time of purchase. (Round your intermediate calculations and final answer to 2 decimal places.)

Current yield

%

(b)	Determine the yield-to-maturity on your bond investment. (Round your intermediate calculations and final answer to 2 decimal places.)

Yield-to-maturity

%