PLEASE ANSWER ALL PARTS:

PART A:

A GM and a Ford bond both have 4 years to maturity, a $1,000 par value, a BB rating and pay interest semiannually. GM has a coupon rate of 6.1%, while Ford has a coupon rate of 5.5%.

The GM bond trades at 91.06 (percent of par). What is the yield to maturity (YTM)?

What should be the price of the Ford bond (in $)?

PART B:

A bond has an annual coupon rate of 4%, a face value of $1,000, a price of $1,103.42, and matures in 10 years.

What is the bond's YTM?

PART C:

You purchase the following bond. The bond makes interest payments on May 15 and Nov. 15 of every year:

	A	B
1	Purchase date	4/7/2022
2	Price (% of par)	82.48
3	Face value	$1,000
4	Coupon rate	4.1%
5	Maturity date	11/15/2032
6	Payment frequency	Semiannual
7	Day count basis	30/360

What is the bond's YTM using Excel's YIELD function?