A high-yield bond has the following terms: 
a. What is the bond's price if comparable debt yields 12 percent?
b. What would be the price if comparable debt yields 12 percent and the bond matures after five years?
c. What are the current yields and yields to maturity in a and b?
d. What would be the bond's price in a and b if interest rates declined to 9 percent?
e. What are the current yield and yield to maturity in d?
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