The average industry PE ratio for hotels similar to Shangri-La hotel Chain is 37. What is the current price of Shangri-La's earnings per share (EPS) are projected to be Tk. 1.16?

Using a supply and demand framework for bonds, show why interest rates are procyclical (rising when the economy is expanding and falling during recessions). Show the effect on interest rates when the risk of loss of bonds rise under the same framework.

What is the discount yield for a five year bond that was purchased for Tk. 60 and has a face value of Tk. 100.