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Ajax Corporation issued 10,000 units of S1000 face value bonds that mature in 20 years and have a 4% coupon rate that is paid semi-annually.

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Ajax Corporation issued 10,000 units of S1000 face value bonds that mature in 20 years and have a 4% coupon rate that is paid semi-annually. If the bonds were sold at 96.5% of their face value, calculate the yield to maturity on the date of the issue Multiple Choice 438% 4.26% 430% o 4 50% O

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