1. The Holmes Company's currently outstanding bonds have a 10% coupon and a 13% yield to maturity. Holmes believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 35%, what is Holmes's after-tax cost of debt? Round your answer to two decimal places.
%
2. If you purchase a lot today for $24900, how much would the lot be worth if it is expected to increase in value at an annual rate of 3%, compounded quarterly, until you choose to sell it 12 years from now? (Express your answer to two decimal places.)
3. How much should you deposit into a bank account monthly in order to buy a property that you expect to cost $192900 in 5 years if the account pays 4% annual interest? (Express your answer as a positive number and to two decimal places.)