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Brown Enterprises' bonds earn a 7.60 percent yield to maturity. They have a 20-year maturity, and an annual coupon rate of 8 percent. Coupons are
Brown Enterprises' bonds earn a 7.60 percent yield to maturity. They have a 20-year maturity, and an annual coupon rate of 8 percent. Coupons are paid semiannually. What is their current yield?
a. |
9.20% | |
b. |
7.90% | |
c. |
7.64% | |
d. |
7.69% | |
e. |
9.00% |
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