How is a bond's value determined? a. By finding the present value of the bond's expected coupon payments and par value at the bond's required rate of return. b. By finding the present value of the bond's expected coupon payments at the bond's coupon rate. C. By finding the present value of the bond's expected coupon payments at the bond's required rate of return. d. By finding the present value of the bond's expected coupon payments and par value at the bond's coupon rate. Which of the following bonds would have the highest required rate of return assuming each bond has the same time to maturity? a. A BB-rated callable bond b. A BB-rated non-callable bond C. An AA-rated callable bond d. An AA-rated non-callable bond Which of the following bonds would have the most re-investment rate risk? a. A 20-year zero coupon bond. b. A 10-year, 10% coupon bond. C. A 20-year, 10% coupon bond. d. A 10-year, zero coupon bond. What is a bond's expected total rate of return called? a. current yield b. coupon rate c. expected capital gains yield d. d. yield to maturity