Parta A firm's coupon bonds are currently trading in the market place at a price of 880 per bond with a face value of 1,000. The bonds have 5 years left to maturity and will be redeemed at face value. The coupon rate is 6.5% per annum, the yield to maturity before tax is 9.64% and the firm pays tax at a rate of 40% per annum payable 1 year in arrears. Calculate the bonds' yield to maturity after tax. (15 marks)