A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080. What is its yield to maturity (YTM)? Round your answer to two decimal places. % Assume that the yield...

A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080.

1. What is its yield to maturity (YTM)? Round your answer to two decimal places.
   

       %

   
   


2. Assume that the yield to maturity remains constant for the next three years. What will the price be 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.
   

   $