Soo Lee Imports issued 17-year bonds 2 years ago at a coupon rate of 10.3 percent.

Kaiser Industries has bonds on the market making annual payments, with 14 years to maturity, and selling for $1,382.01. At this price, the bonds yield 7.5 percent. What is the coupon rate?    A.  8.00 percent B.  8.50 percent C.  9.00 percent D.  10.50 percent E.  12.00 percent   Coupon rate = $120/$1,000 = 12 percent

114.	Dexter Mills issued 20-year bonds a year ago at a coupon rate of 10.2 percent. The bonds make semiannual payments. The yield-to-maturity on these bonds is 9.2 percent. What is the current bond price?    A.  $985.55 B.  $991.90 C.  $1,042.16 D.  $1,089.02 E.  $1,098.00

115.

Soo Lee Imports issued 17-year bonds 2 years ago at a coupon rate of 10.3 percent. The bonds make semiannual payments. These bonds currently sell for 102 percent of par value. What is the yield-to-maturity?    A.  9.98 percent B.  10.04 percent C.  10.13 percent D.  10.27 percent E.  10.42 percent   This cannot be solved directly, so it's easiest to just use the calculator method to get an answer. You can then use the calculator answer as the rate in the formula just to verify that your answer is correct.