Use the following bond quotation for City Cars, Inc. to answer each of the questions below.
City Cars 9.25 Nov. 2, 2010 102.500 8.70 280 5 36,500
(a) What dollar amount of interest per bond can an investor expect to receive each year from City Cars, Inc.?
(b) At what price did the bond close at the end of the day?
(c) What is the current yield (from interest) on this bond?
(d) By what percentage does the yield on this bond exceed the yield on a similar maturity U.S. Treasury bond?
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