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Problem 6-30 A BBB-rated corporate bond has a yield to maturity of 8.2%. A U.S. Treasury security has a yield to maturity of 6.5%. These yields are quoted as APRs with semiannual compounding. Both bonds pay semiannual coupons at a rate of 7% and have five years to maturity. Note: assume a $1,000 face Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that fiunction. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. a. What is the price (expressed as a percentage of the face value) of the Treasury bond? b. What is the price (expressed as a percentage of the face value) of the BBB-rated corporate c. What is the credit spread on the BBB bonds? BBB bond YTM Treasury YTM Coupon rate Maturity (years) Face value 8.2% 7% 1,000 10 12 13 a. What is the price (expressed as a percentage of the face value) of the Treasury bond? Number of periods Semiannual YTM Bond price Percentage of face value 21 b. What is the price (expressed as a percentage of the face value) of the BBB-rated corporate Semiannual YTM Bond price Percentage of face value 25 27 c. What is the credit spread on the BBB bonds? Spread 14 Requirements 1In cell D17, by using cell references, calculate the coupon payment of the Treasury bond (1 35 2In cell D18, by using cell references, calculate the number of periods remaining on the Treasury bond (1 pt.) In cell D19, by using cell references, calculate the semiannual YTM of the Treasury bond (1 pt.) In cell D20, by using cell references, calculate the price of the Treasury bond (1 pt.). Note: The output of the expression or function you typed in this cell is expected as a positive number 3 4 In cell D21, by using cell references, calculate the percentage of face value, i.e., price face value (1 pt.) In cell D25, by using cell references, calculate the semiannual YTM of the BBB-rated bond (1 5 19 6 In cell D26, by using cell references, calculate the price of the BBB-rated bond(1 pt.). Note: The output of the expression or function you typed in this cell is expected as a positive number 7 In cell D27, by using cell references, calculate the percentage of face value, i.e., price/face value (1 pt.) 8 9 In cell D31, by using cell references, calculate the spread on the BBB-rated bonds (1 pt