2) Kiss the Sky Enterprises has bonds on the market making annual payments, with 18 years to maturity, and selling for $840. At this price, the bonds yield 10.0 percent. What must the coupon rate be on the bonds?
3) Grohl Co. issued 8-year bonds a year ago at a coupon rate of 12 percent. The bonds make semiannual payments. If the YTM on these bonds is 9 percent, what is the current bond price?