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Ajax Corporation has a bond with a coupon rate of 12.5%, maturing in 15 years at a value of $1,000. The bond makes annual interest
Ajax Corporation has a bond with a coupon rate of 12.5%, 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?
A. 10.25%
B. 11.50%
C. 12.50%
D. 13.50%
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