Suppose you purchase a ten-year bond with 8% annual coupons. You hold the bond for four years and sell it immediately after receiving the fourth coupon. If the bond's yield to maturity was 6.04% when you purchased and sold the bond:

Note: Assume annual compounding.

a. What cash flows will you pay and receive from your investment in the bond per $100 face value? The cash flow at time 1-3 is $8.00

a1. The cash outflow at time 0 is $114.40.

a3. The total cash flow at time 4 (after the fourth coupon) is: Please help me understand how to solve with Excel. Thank you!

b. What is the internal rate of return of your investment?