The fieldstone flooring company series A bonds have 5 years to maturity. Interest is paid annually; the bonds have $1000 par value and the coupon rate is 9%
a. What is the yield to maturity, at a current market price of $829
b. What is the yield to maturity, at a current market price of $1104
c. What would you pay for a bond if you believed that appropriate yield is 12%?