1.  
2. Three bonds are issued with an annual coupon rate of 7%; however, the first bond is priced at 110 per 100 par value bond using a market discount rate of 5%, the second bond is priced at par value using a market discount rate of 6%, and the third bond is priced at 97 per 100 par value bond with an appropriate market discount rate of 8%. What among the three bonds is most likely mispriced?
3.  
4.