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1. Nesmith Corporation’s outstanding bonds have a $1,000 par value, an 6% semiannual coupon, 12 years...

1. Nesmith Corporation’s outstanding bonds have a $1,000 par value, an 6% semiannual coupon, 12 years to maturity, and an 8% YTM. What is the bond’s price?

a. $789.42

b. $849.28

c. $847.553

d. $1,304.94

2. A firm’s bonds have a maturity of 6 years with a $1,000 face value, have an 13% semiannual coupon, are callable in 2 years at $1,136, and currently sell at a price of $1,159.87. What is their nominal yield to call?

a. 10.26%

b. 12.40%

c. 4.55%

d. 9.07%

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