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Suppose the following bond quotes for IOU Corporation appear in the financial page of today's newspaper. Assume the bond has a face value of $2,000 and the current date is April 19,2021.
\table[[\table[[Company],[(Ticker)]],Coupon,Maturity,Last Price,Last Yield,EST volume],[IOU (IOU),5.8,April 19,2037,110.42,??,1,847]]
a. What is the yield to maturity of the bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)
b. What is the current yield? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)
Answer is complete but not entirely correct.
\table[[a. YTM,5.96,%
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