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The following table summarizes current prices of various default-free bonds with different maturities. Interest is paid semi-annually Year to Maturity | Coupon Rate (%) |

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The following table summarizes current prices of various default-free bonds with different maturities. Interest is paid semi-annually Year to Maturity | Coupon Rate (%) | Spot price (E) 0.5 1.0 1.5 2.0 0.0 0.0 8.5 9.0 96.15 92.19 99.45 99.64 Compute the yield to maturity (YTM) and the theoretical spot rate for each of the four bonds 3.1 (14%)

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