A 30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 10%.
a. What is the bond’s yield to maturity if the bond is selling for $1,060? (Do not round intermediate calculations. Round your answer to 3 decimal places.)
b. What is the bond’s yield to maturity if the bond is selling for $1,000? (Do not round intermediate calculations.)
c. What is the bond’s yield to maturity if the bond is selling for $1,260? (Do not round intermediate calculations. Round your answer to 3 decimal places.)