34 35 36 37 38 39 Crazy Racoon is now considering another bond issue that would settle on June 30, 2020 and mature in 30 years. Because the company wants to limit interest payments it has decided, along with the investment bankers, to issue the bond with a low 3.00% coupon even though the market will demand a 6.00% yield to maturity on the bond. Assuming semiannual interest (2 coupons per year Crazy Racoon has an old bond trading in the secondary market with a low 3.0% coupon. This bond had been issued during a period of very low interest rates at a par value of 100.00 (which means the full $1,000.00 face value of the bond). It pays interest semiannually 20 42 25 40 Asume the date is June 30, 2020 and the maturity date of the bond is June 30, 2030, If the hond is trading at 77,00 (= $770.00 per $1,000.00 bond) what is the Yield to Maturity (TM) of the bond 40 49 50 59 Settlement date Maturity date Annual coupon rate Bond price at Redemption value as X of par value Number of coupons per year YIELD TO MATURITY