(Quantitative Question) Lloyd Industries raised $28 million in order to upgrade its roller kiln furnace for the production of ceramic tile. The company funded this by issuing 15-year bonds with a face value of $1000 and a coupon rate of 62% paid annually. The below table shows the yield to maturity for similar 15-year corporate bonds of different ratings issued at the same time. Security AAA Corporate Corporate Corporate BBB Corporate BB Corporate Yield (96)5.70% 5.80 6.00% 6,60% 6.90% When Lloyd Industries issued their bonds, they received a price of $1019.42 a. What is the YTM of the bond? 96 (Round to 2 decimal places) b. What is most likely to be the rating these bonds received? Write your answers both in the spaces above and on the empty pages on which you will show your work for each part (including a timeline for part a)