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One More Time Software has 11.6 percent coupon rate (APR) bonds on the market with 19 years to maturity. The bonds make semiannual payments and

One More Time Software has 11.6 percent coupon rate (APR) bonds on the market with 19 years to maturity. The bonds make semiannual payments and currently sell for 136.5 percent of par.

(a)

What is the current yield on the bonds?

(b)

What is the YTM as an APR?

(c)

What is the YTM as an effective annual rate (EAR)? Note: use the ICONV to convert an APR into an EAR.

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