Task: At the beginning of the year, you bought a $1,000 par value corporate bond with a 6% annual coupon rate and a 10 year maturity date. When you bought the bond, it had an expected yield to maturity of 8%. Today the bond sells for $1,060.
Q1. What did you pay for the bond?
Q2. If you sold the bond at the end of the year, what would be your one-period return on the investment?