Question
A firms bonds have a maturity of 13 years with a $1,000 face value, a 9 percent semiannual coupon, are callable in 7 years at
A firms bonds have a maturity of 13 years with a $1,000 face value, a 9 percent semiannual coupon, are callable in 7 years at $1,055, and currently sell at a price of $1,114. What is their yield to maturity (YTM)?
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Fundamentals of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
11th edition
77861701, 978-0077861704
