Problem 6-25 Using Bond Quotes [LO 2]

Suppose the following bond quote for IOU Corporation appears in the financial page of todays newspaper. Assume the bond has a face value of $2,000, and the current date is April 15, 2019.

Company (Ticker)	Coupon	Maturity	Last Price	Last Yield	EST Vol (000s)
IOU (IOU)	7.40	Apr 15, 2033	92.928	??	95

a.	What is the yield to maturity of the bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
b.	What is the current yield? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
	Problem 6-3 Bond Prices [LO 2] Vulcan, Inc., has 8 percent coupon bonds on the market that have 8 years left to maturity. The bonds make annual payments and have a par value of $1,000. If the YTM on these bonds is 10 percent, what is the current bond price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)