7. A 10-year municipal bond has a coupon rate of 4.5% and just sold today for 104.56. It matures on December 1, 2023. What is its tax-equivalent yield? Assume a marginal tax rate of 40% and interest is paid June 1 and December 1. 

 

8. A bond has a current price of $800, a maturity value of $1,000 (matures in 5 years). If interest is paid semi-annually and the bond is priced to yield 8%, what is the bond's annual coupon rate?

 

9. Another bond was issued on 6/1/2018 and has a 4% coupon rate, with interest paid semi-annually, and a maturity value of $1,000, and matures on 6/1/2043. However, it is callable after 6/1/2023 with a call premium of 7.5%. If the bond is currently priced to yield 3.75%, what is the bond's yield to call if you bought it on 3/1/2022?

 

10. This last bond has an 8% coupon rate (semi-annual interest), a maturity value of $1,000, matures in 5 years, and a current price of $1,200. What is the its yield-to-maturity?