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You buy a bond for $991 that has a coupon rate of 5.90% and a maturity of 10 -years. A vear later, the bond price

image text in transcribed You buy a bond for $991 that has a coupon rate of 5.90% and a maturity of 10 -years. A vear later, the bond price is $1,176. (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 intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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