The following bond list is from the business section of a newspaper on January 1, 2005. Notice that each bond shown matures on January 1 in 5, 10, or 30 years. Each bond shown pays a semiannual couponthe coupon rate is in the column labeled "COUPON." The LAST PRICE and LAST YIELD columns indicate each bond's price and YTM at the end of trading. EST SPREAD indicates the bond's spread above the relevant U.S. Treasury benchmark expressed as a percentage. UST indicates which U.S. Treasury security maturity is the relevant benchmark for each bond. EST $ VOL shows the number of bonds traded during the day. Notice also that prices are stated relative to a par value of $100.

What is the yield on a 10-year U.S. Treasury security?

O 2.17%

O 2.37%

O 6.20%

O 6.40%

0 4.30%

What is the closing price of Tullis Holding Co.'s bonds? State the closing price relative to a par value of $100.

O $87.46 0 $95.31

0 $92.86

O $90.96

0 $89.17

Which bond is trading at a premium?

O Flaherty Electric

O Mitts Credit

COUPON (0/0) LAST YLD EST $ VOL LAST MATURITY PRICE EST COMPANY Kellgren Motors 8.250 01-01-2015 Olson Capital Flaherty Electric Mitts Credit Tullis Holding Co. 4.125 01-01-2010 S97.87 $99.22 $104.07 $88.14 (O/0) SPREAD UST (000's) 59,725 52,930 46,932 45,120 43,960 10 5.80001-01-2010 8.97501-01-2015 9.625 01-01-2035 8.572 5.982 8.366 10.982 6.258 2.3 7 0.58 2.17 4.03 0.86 10 30 What is the yield on a 10-year U.S. Treasury security? 02.17% o 2.37% O 6.20% O 6.40% 0 4.30%