Space plc issued a new series of bonds on January 1, 1987. The bonds were sold at par (1,000), had a 12% coupon, and matured in 30 years on 31 December 2016. Coupon payments were made semi-annually (on 30 June and 31 December).

(i) What was the YTM on the date the bonds were issued?

(ii) What was the price of the bonds on 1 January 1992 (5 years later), assuming the interest rates had fallen to 10%?

(iii) Find the current yield, capital gains yield, and total yield on 1 January 1992, given the price as determined in part (ii).