Based on the Daily Government Trading and Quotation Summary on August 7, 2019, approximately 7.75 years after issue, the bond traded on the secondary market at a yield to maturity (YTM) of 4.80%, with a price of $1110.00 (per $1,000 face value).

(a) Prove the accuracy of the traded bond price based on this yield to maturity (YTM).

(b) Compute the bonds current yield based on the last traded price calculated in (a) above.

TRADE DATE Wednesday 07 August, 2019 TOTAL MARKET FACE VALUE 55,000,000.00 TRADE VALUE 61,006,740.00 Trade Prices Outstanding Last Sale Symbol Security Issue Price Opening Quotation Last Trade Yield Face Value Traded Trade Value Change From Opening Quotation High Bid Price Low Closing Quotation Bid Volume Offer Price Offer Volume Price Date E210 104.23 99.90 99.90 14 Jun 2019 2.71 99.90 $1,000M GORTT 2.60% 21.05.2020 $600M GORTT 6.40% 30.06.2020 F300 100.00 103.46 103.46 25 Jun 2019 2.89 103.46 F272 $1,000M GORTT 2.20% 27.06.2021 101.30 98.03 98.03 23 Jan 2019 3.05 98.03 1301 $300M GORTT 6.75% 30.09.2022* $% $500M GORTT 3.80% 19.12.2022 L197 100.00 101.84 101.84 25 Mar 2019 3.27 101.84 D206 $794M GORTT 5.95% 20.04.2023 101.81 110.76 110.76 03 Aug 2018 3.45 110.76 H062 $559.271M GORTT 2.50% 06.08.2023 100.00 94.17 94.17 17 Aug 2018 3.80 94.17 D233 $1,500M GORTT 7.75% 23.04.2024 100.00 119.48 119.48 14 Jun 2019 3.36 119.48 B093 $600M GORTT 6.50% 09.02.2025 104.90 116.73 116.73 12 Jan 2018 3.78 116.73 B148 $1,000M GORTT 4.10% 14.02.2025 100.00 101.00 101.00 26 Feb 2019 3.91 101.00 1234 $1,451.841M GORTT 2.80% 23.09.2026 96.04 92.60 92.6008 May 2019 3.97 92.60 B046 $1,399.8M GORTT 6.60% 04.02.2027 116.80 116.80 14 Jan 2019 4.13 116.80 1276 $2,500M GORTT 5.20% 27.09.2027 113.44 108.56 108.56 20 Mar 2019 4.00 108.56 E163 $1,000M GORTT 4.50% 16.05.2028 97.73 101.30 101.30 14 Jun 2019 4.32 101.30 B048 $1,000M GORTT 6.70% 04.02.2029* H037 $300M GORTT 6.15% 03.08.2019 100.00 103.10 103.1021 Sep 2018 5.76 103.10 1224 $300M GORTT 6.10% 22.09.2019 99.66 103.33 103.33 21 Sep 2018 5.69 103.33 B040 $1,000M GORTT 6.80% 04.02.2031 * . K225 $1,500M GORTT 6.00% 22.11.2031 107.28 110.18 | 111.00 110.38 111.00 07 Aug 2019 4.80 55,000,000.00 61,006,740.00 111.00 0.82 TRADE DATE Wednesday 07 August, 2019 TOTAL MARKET FACE VALUE 55,000,000.00 TRADE VALUE 61,006,740.00 Trade Prices Outstanding Last Sale Symbol Security Issue Price Opening Quotation Last Trade Yield Face Value Traded Trade Value Change From Opening Quotation High Bid Price Low Closing Quotation Bid Volume Offer Price Offer Volume Price Date E210 104.23 99.90 99.90 14 Jun 2019 2.71 99.90 $1,000M GORTT 2.60% 21.05.2020 $600M GORTT 6.40% 30.06.2020 F300 100.00 103.46 103.46 25 Jun 2019 2.89 103.46 F272 $1,000M GORTT 2.20% 27.06.2021 101.30 98.03 98.03 23 Jan 2019 3.05 98.03 1301 $300M GORTT 6.75% 30.09.2022* $% $500M GORTT 3.80% 19.12.2022 L197 100.00 101.84 101.84 25 Mar 2019 3.27 101.84 D206 $794M GORTT 5.95% 20.04.2023 101.81 110.76 110.76 03 Aug 2018 3.45 110.76 H062 $559.271M GORTT 2.50% 06.08.2023 100.00 94.17 94.17 17 Aug 2018 3.80 94.17 D233 $1,500M GORTT 7.75% 23.04.2024 100.00 119.48 119.48 14 Jun 2019 3.36 119.48 B093 $600M GORTT 6.50% 09.02.2025 104.90 116.73 116.73 12 Jan 2018 3.78 116.73 B148 $1,000M GORTT 4.10% 14.02.2025 100.00 101.00 101.00 26 Feb 2019 3.91 101.00 1234 $1,451.841M GORTT 2.80% 23.09.2026 96.04 92.60 92.6008 May 2019 3.97 92.60 B046 $1,399.8M GORTT 6.60% 04.02.2027 116.80 116.80 14 Jan 2019 4.13 116.80 1276 $2,500M GORTT 5.20% 27.09.2027 113.44 108.56 108.56 20 Mar 2019 4.00 108.56 E163 $1,000M GORTT 4.50% 16.05.2028 97.73 101.30 101.30 14 Jun 2019 4.32 101.30 B048 $1,000M GORTT 6.70% 04.02.2029* H037 $300M GORTT 6.15% 03.08.2019 100.00 103.10 103.1021 Sep 2018 5.76 103.10 1224 $300M GORTT 6.10% 22.09.2019 99.66 103.33 103.33 21 Sep 2018 5.69 103.33 B040 $1,000M GORTT 6.80% 04.02.2031 * . K225 $1,500M GORTT 6.00% 22.11.2031 107.28 110.18 | 111.00 110.38 111.00 07 Aug 2019 4.80 55,000,000.00 61,006,740.00 111.00 0.82