You buy a 10-year $5000 bond, redeemable at par, with semi-annual coupons at J2 - 6%. The bond is bought to yield J2= 6%. Two years later, you decide to sell the bond. What rate of return do you earn if after the 2-year period, yield rates have

a) Remained at j2 = 6%

b) Decreased to j2 = 5%

c) Increased to j2 = 7%

Calculate the IRR by using the trial-and-error method.