A 13-year, 9.0% semiannual coupon bond with a par value of $1,000 may be called in 7 years at a call price of $1,090. The bond sells for $1,309. (Assume that the bond has just been issued.) What is the bond's current yield?

1. 3.24%
2. 7.46%
3. 5.79%
4. 6.88%
5. 9.05%

Renfro Rentals has issued bonds that have a 7.80% coupon rate, payable semiannually. The bonds mature in 22 years, have a face value of $1,000, and a yield to maturity of 5.30%. What is the price of the bonds?

1. $1,227
2. $1,503
3. $1,177
4. $1,165
5. $1,322

Thatcher Corporation's bonds will mature in 15 years. The bonds have a face value of $1,000 and an 8.50% coupon rate, paid semiannually. The price of the bonds is $1,212. The bonds are callable in 8 years at a call price of $1,085. What is their yield to call?

1. 6.65%
2. 9.36%
3. 6.48%
4. 5.97%
5. 6.34%