1. Kiss the Sky Enterprises has bonds on the market making annual payments, with 9 years to maturity, and selling for $950. At this price, the bonds yield 6.2 percent. What must the coupon rate be on the bonds?
2. Grohl Co. issued 17-year bonds a year ago at a coupon rate of 12 percent. The bonds make semiannual payments. If the YTM on these bonds is 9 percent, what is the current bond price?
3. Ashes Divide Corporation has bonds on the market with 15 years to maturity, a YTM of 7.8 percent, and a current price of $1,156.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? (Do not round your intermediate calculations.)