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b) On January 1, 2021, Aluworks Ghana Ltd issued a Bond with GH1,000 face value and a coupon rate of 10%, with coupons paid semi-annually

b) On January 1, 2021, Aluworks Ghana Ltd issued a Bond with GH1,000 face value and a coupon rate of 10%, with coupons paid semi-annually at the end of each half-year. The bond is redeemable on January 1, 2031 at nominal value and it is currently trading at GH913. Meanwhile, banks are, now, giving 4% interest for deposits. It is now the beginning of 2021. Required: Estimate the Bonds yield (required rate of return)

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