In February 2018, Aaa bonds yielded 3.54%, Baa bonds yielded 4.67%, and Treasuries with the same maturities yielded 3.02%.

1. What was the credit spread on Aaa bonds?
2. What was the spread on Baa bonds?
3. What do you think would be the difference in price (as a percent of face value) between a typical 20% Treasury bond and a similar Baa bond? Assume annual coupons.

Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 3 decimal places for requirements a and b and to 2 decimal places for requirement c.