You buy an 7.1 percent coupon, paid annually, 9-year maturity bond for $965. A year later, the bond price is $1,065. Face value of the bond is $1,000.

a. What is the yield to maturity on the bond today? (Round your answer to 2 decimal places.) What is the yield to maturity on the bond in one year? (Round your answer to 2 decimal places.) b. What is your rate of return over the year? (Round your answer to 2 decimal places.)