Workman Software has 10.6 percent coupon bonds on the market with 5 years to maturity. The bonds make semiannual payments and currently sell for 108.4 percent of par.

a.	What is the current yield on the bonds?
	multiple choice 1 9.78% 10.27% 10.77% 0.20%

b.	The YTM?
	multiple choice 2 8.68% 11.10% 4.25% 8.50%

c.	The effective annual yield?
	multiple choice 3 8.68% 9.11% 0.10% 8.47%