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Q3. Reen Inc would like to raise financing for its infrastructure projects. They decide to issue corporate bonds. The characteristics of the bonds are AAA rated 5% p.a. compounded annually, annual coupon bond with a face value of Rs. 1000 and 8 years' time to maturity. You decide to lend money to the company by buying their bond at end of Year 1. You bought a unit (1) bond. The YTM of the bond is 6% p.a. compounded annually. After 2 years from Year 0 , the interest rate in the market has gone down by 2% and you decide to sell it at end of Year 2 where you also receive the coupon payment at the end of Year 2. What is your holding period yield (in what range \%) on your investment if you bought it at end of Year 1 and sold it at end of Year 2? a) 15.5%17.5% b) 13.5%15% c) 11%12% d) 7% e) None of the options are correct. What is your answer? Write your steps