Within Year, Inc. has bonds outstanding with a $1,000 par value and a maturity of 19 years. The bonds have an annual coupon rate of 15.0% with semi-annual coupon payments. You would expect a quoted annual return of 16.0% if you purchased these bonds. What are the bonds worth to you?

Question 22 options:

	$1,011.83
	$940.86
	$1,062.40
	$951.98
	$1,828.02

Question 23 (4 points)

XZYY, Inc. currently has an issue of bonds outstanding that will mature in 27 years. The bonds have a face value of $1,000 and a stated annual coupon rate of 20.0% with annual coupon payments. The bond is currently selling for $1,141. The bonds may be called in 6 years for 120.0% of the par value. What is your expected quoted annual rate of return if you buy the bonds and hold them until maturity?

Question 23 options:

	21.33%
	18.08%
	15.94%
	17.50%
	23.14%

You are considering buying bonds in AZYX, Inc. The bonds have a par value of $1,000 and mature in 11 years. The annual coupon rate is 20.0% and the coupon payments are annual. The bonds are currently selling for $817.18 based on a yield-to-maturity of 25.0%. What is the bond's expected capital gain/loss if the bonds are held until maturity?

Question 25 options:

	0.00%
	5.00%
	0.53%
	-5.59%
	8.66%