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36 Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 23 years. The bonds have an
36
Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 23 years. The bonds have an annual coupon rate of 18.0% with semi-annual coupon payments. The current market price for the bonds is $845. The bonds may be called in 3 years for 118.0% of par. What is the quoted annual yield-to-maturity for the bonds?
10.67% |
21.34% |
23.87% |
30.32% |
38.91% |
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