Currently the $11\%$ semi$-$annual bonds of Smith and Daughters have $8$ years to maturity and are selling at $$85\mathrm{.}83(858\mathrm{.}30$ per $$1000$ of face value$).$

$1.$ Calculate the yield to maturity on the bonds

$2.$ If interest rates don$$t change, at what price will the bonds sell $2$ years from today?

$3.$ Suppose interest rates do change over the next $2$ years. At the end of $2$ years, the bond is priced to yield $12\%.$ What will be the bond$$s price on the day?

$4.$ given the information in c$),$ what$$s the expected before$-$tax rate of return if the bond is bought today and sold $2$ years from today? State clearly your reinvestment assumptions

$5.$ If your marginal tax rate is $40\%,$ what is the expected after$-$tax rate of return corresponding to d$)$