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(Bond valuation) At the beginning of the year, you bought a $1,000 par value corporate bond with an annual coupon rate of 15 percent and
(Bond valuation) At the beginning of the year, you bought a $1,000 par value corporate bond with an annual coupon rate of 15 percent and a maturity date of 15 years. When you bought the bond, it had an expected yield to maturity of 14 percent. Today the bond sells for $1,200. a. What did you pay for the bond? b. If you sold the bond at the end of the year, what would be your one-period return on the
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