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25. Ajax Corporation has a bond with a coupon rate of 11.5%, maturing in 15 years at a value of $1,000. The bond makes annual

25. Ajax Corporation has a bond with a coupon rate of 11.5%, maturing in 15 years at a value of $1,000. The bond makes annual interest payments and has a current market price of $920. What is the nominal yield for the Ajax Corporation bond? Select one: A. 10.25% B. 11.50% C. 12.50% D. 13.50%

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