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  3. on march 1, wayne michaels bought 10 bonds from a

On March 1, Wayne Michaels bought 10 bonds from a particular company with a coupon...

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Accounting

On March 1, Wayne Michaels bought 10 bonds from a particular company with a coupon rate of 9.725%. The purchase price
was 89.875, and the commission was $7 per bond. Bonds from this particular company pay interest on February 1 and
August 1.
(a) What is the current yield (as a %) of the bond as of the purchase date? (Round your answer to one decimal place.)
%
(b) What is the total purchase price (in $) of the bonds? (Round your answer to the nearest cent.)
$
(c) If Wayne sold the bonds on November 1 for 94.875, what are the proceeds (in $) from the sale? (Round your answer
to the nearest cent.)
$
Please assist with (C)
image

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