One bond has a coupon rate of 5.8%, another a coupon rate of 8.4%.Bth bonds pay interest annually, have 9year maturities, and sell at a yield to maturity of 7.0%

a. If their yields to maturity nest year are still 7.0%, what is the rate of return on each bond?

b. Does the higher coupon bond give a higher rate of return over this period?