FIGURE 7.5 Sample Wall Street Journal U.S. Treasury Note and Bond Prices

Treasury Notes and Bonds
Maturity	Coupon	Bid	Asked	Chg	Asked Yield
5/15/2020	8.75	103.18	103.184	0.022	1.649
12/31/2020	2.5	100.294	100.3	0.006	1.661
9/30/2021	1.125	98.304	98.31	0.102	1.684
4/30/2022	1.75	100.05	100.054	0.008	1.679
12/31/2022	2.125	101.096	101.102	0.002	1.69
1/31/2023	1.75	100.042	100.046	0.006	1.702
3/31/2023	2.5	102.194	102	0.002	1.698
7/31/2023	1.25	98.114	98.12	0.004	1.703
4/30/2024	2	101.036	101.042	0.006	1.735
5/31/2024	2	101.066	101.072	0.004	1.719
1/31/2025	2.5	103.202	103.206	0.004	1.765
10/31/2025	3	106.212	106.216	0.002	1.814
11/15/2026	6.5	130.2	130.21	0.030	1.821
8/15/2027	6.375	132.17	132.18	0.022	1.85
2/15/2029	2.625	105.296	105.306	0.008	1.919
2/15/2031	5.375	134.14	134.16	0.036	1.947
2/15/2036	4.5	132.23	132.25	0.770	2.108
2/15/2037	5	141.22	141.24	0.094	2.131
5/15/2038	4.5	135.026	136.046	0.074	2.182
2/15/2039	3.5	119.214	119.234	0.076	2.233
5/15/2040	4.375	134.034	135.054	0.078	2.28
8/15/2041	3.75	123.23	123.25	0.786	2.348
8/15/2042	2.75	106.094	106.114	0.080	2.386
11/15/2042	2.75	106.082	106.102	0.082	2.391
2/15/2043	3.125	113	113.02	0.760	2.39
5/15/2043	2.875	108.152	1008.172	0.094	2.398
8/15/2044	3.125	113.116	113.136	0.078	2.402
11/15/2045	3	111.136	111.156	0.080	2.403
2/15/2046	2.5	101.174	101.194	0.080	2.417
5/15/2047	3	111.25	111.27	0.760	2.409
8/15/2049	2.25	96.16	96.18	0.074	2.413

Locate the Treasury bond in Figure 7.5 maturing in February 2046. Assume a $10,000 par value. a. Is this a premium or a discount bond? b. What is its current yield? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is its yield to maturity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) d. What is the bid-ask spread in dollars? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Premium or discount bond b. Current yield c. Yield to maturity d. Bid-ask spread % %