PT BSK wants to expand its business. In order to fund its expansion, on March 27, 2021, the company will withdraw with a nominal price of Rp. 100 million per sheet and its maturity age is 6 years.

The amount of basic interest is at a floating rate which is based on the average interest rates of the 5 government banks, namely Bank BA, Bank BB, Bank BC, Bank BD and Bank BE

The estimated interest rates of the 5 Government Banks are:

Year	BA	BB	BC	BD	BE
2021 2022 2023 2024 2025 2026	15% 17% 19% 13% 17% 14%	18% 14% 18% 15% 17% 18%	18% 15% 14% 16% 18% 16%	15% 12% 17% 14% 18% 15%	17% 19% 19% 14% 16% 12%

Note:

The yield required by investors is 15% and interest is paid annually Arman on March 27, 2021, bought the bonds issued by the company at a price of 94 million per sheet

Question:

a. What is a reasonable bond price? b. What is the Yield To Maturity (YTM) c. Is it worth buying the bonds made by Arman?