The YTM on a bond is the interest rate you earn on your

investment if interest rates don$$t change. If you actually sell the

bond before it matures, your realized return is known as the

holding period yield $($HPY$).$a$.$ Suppose that today you buy a bond with an annual coupon rate

of $6$ percent for $$1,150.$ The bond has $20$ years to maturity. What

rate of return do you expect to earn on your investment? Assume a

par value of $$1,000.($Do not round intermediate calculations and

enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,$

$32\mathrm{.}16.)$b$-1.$ Two years from now, the YTM on your bond has declined by $1$

percent, and you decide to sell. What price will your bond sell

for? $($Do not round intermediate calculations and round your answer

to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$b$-2.$ What is the HPY on your investment? $($Do not round

intermediate calculations and enter your answer as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$a$.$ expected return $\%=$b$-1.$ bond price$=$b$-2.$ HPY $\%=$