Question: Problem 1 0 - 1 6 ( Algo ) Consider a bond paying a coupon rate of 1 2 . 2 5 % per year

Problem 10-16(Algo)
Consider a bond paying a coupon rate of 12.25% per year semiannually when the market interest rate is only 4.9% per half-year. The bond has six years until maturity.
Required:
a. Find the bond's price today and six months from now after the next coupon is paid. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
b. What is the total rate of return on the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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