1. Skolits Corp. issued 15-year bonds 2 years ago at a coupon rate of 9.1 percent. The bonds make semiannual payments. If these bonds currently sell for 103 percent of par value, what is the YTM? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
2. Lydic Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.8 percent, a par value of $1,000, and a current price of $1,045. The bonds make semiannual payments.
What must the coupon rate be on these bonds?