Riley is looking to buy a bond that has 8 years to maturity and a coupon rate of 7%. His required return on the bond is 5.50% and the current price of the bond is $1,248. For Riley, what excess return does the bond offer? 0 150% 0 -2.07% 2.07% O -1.50% 0 -3.57% 0 3.57% Paul is a bondholder of a 8% bond that has 7 years to maturity and an 8.6% yield to maturity (YTM). If the YTM on the bond decreases to 7.6%, how much will the bond change in value? Increase by $44.64 Decrease by $44.64 Decrease by $52.48 Increase by $5248 Question 13 15 pts Several years ago, Smith Towne issued 7% bonds several years ago at $1,045. The bonds currently have an 10% yield to maturity and have 10 years to maturity. What is the current price of the bonds? $815.66 o $1,495.99 O $446.62 0 $813.07