Smokey's CBD Shop has bonds outstanding with a face value of $$5,000.$ They have $7$ years left

to maturity and pay annual interest of $6\%.$ If the bonds are currently trading for a price of

$$4,245,$ what is the yield to maturity?

Deacon's Dapper Dressers has $$10,000$ bonds outstanding with $3$ years left to maturity. They

pay annual interest of $8\%$ on a quarterly basis. If the current yield on similar bonds is $12\%,$ what

is the price of Deacon's bonds?

Years ago Spencer's Splendid Sock Company issued preferred stock shares that pay a fixed

dividend of $$11.$ The required return by investors at the time was $7\%,$ though now it has risen to

$13\%.$

a$.$ What was the price of Spencer's preferred shares when they were issued?

b$.$ What is the current price?

Milo's Milk and Dairy Products issued preferred shares with a $$6$ fixed dividend. They were

priced at $$48.$ What was the required return on these shares?