You buy a(n) 5.5% coupon, 8-year maturity bond for $985. A year later, the bond price is $1,160. Assume coupons are paid once a year and the face value is $1,000.

a.	What is the new yield to maturity on the bond (one year from now)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b.	What is your bond's rate of return over the year? (Round your answer to 2 decimal places.)