1)Merton Enterprises has bonds on the market making annual payments with 14 year

1)Merton Enterprises has bonds on the market making annual payments with 14 years to maturity and selling for $972. At this price the bonds yield 8.4 percent.What must the coupon rate be on Mertons bonds?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g. 32.16). )2)App Store Co. issued 17-year bonds one year ago at a coupon rate of 6.3 percent. The bonds make semiannual payments.If the YTM on these bonds is 5.5 percent what is the current bond price?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g. 32.16).)3)Volbeat Corporation has bonds on the market with 20 years to maturity a YTM of 11.3 percent and a current price of $935. The bonds make semiannual payments.What must the coupon rate be on the bonds?(Do not round intermediate calculations.Round your answer to 2 decimal places (e.g. 32.16).)