You buy a bond for $949 that has a coupon rate of 5.60% and a maturity of 8-years. A year later, the bond price is $1,064. (Assume a face value of $1,000 and annual coupon payments.) a. What is the new yield to maturity on the bond? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Yield to maturity 4.62 % b. What is your rate of return over the year? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Rate of return 18.02 %

You buy a bond for $949 that has a coupon rate of 5.60% and a maturity of 8-years. A year later, the bond price is $1,064. (Assume a face value of $1,000 and annual coupon payments.) a. What is the new yield to maturity on the bond? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. b. What is your rate of return over the year? Note: Do not round intermediat'e calculations. Enter your answer as a percent rounded to 2 decimal places