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A firm raises capital by selling $10,000 worth of debt with flotation costs equal to 1% of its par value. If the debt matures in

A firm raises capital by selling $10,000 worth of debt with flotation costs equal to 1% of its par value. If the debt matures in 5 years and has an annual coupon interest rate of 8%, what is the bond's YTM? The bond's YTM is 7.75%. (Round to two decimal places)

VTMr The bond S YTM in C. (Round to two eeomel pises)

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