Consider a bond issued by MGM Inc. exactly two years ago. At that time the bond’s time to maturity was 30 years. The bon

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Consider a bond issued by MGM Inc. exactly two years ago. At
that time the bond’s time to maturity was 30 years. The bond pays
semiannual coupons with the coupon rate of 6% per year. The face
value of the bond is $1000.
a. What is the bond’s price today, if today’s market interest
rate for bonds of comparable maturity and default risk is 8% per
year?
b. You would like to speculate and believe that tomorrow the
market interest rate for comparable bonds would decrease to 5%,
would you buy or sell short this bond today?
c. Suppose that exactly two years from today the price of
the bond will be $900, what is the annual YTM at that
time?
Please explain without using excel