The Farmer National Bank has purchased a bond that has a coupon rate of 11.5% and a face value of $1000. It has 16 years to maturity and is selling in the market for $1309.80. The bond makes annual coupon payments. (a) What is the yield to maturity on the bond? (b) The Farmer National Bank plans on selling this bond at the end of 8 years for $1071. What is the holding period return on this bond?