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Calculate the approximate yield to maturity of on the following bond and choose the answer that comes closest to what you calculate. Assume that the

Calculate the approximate yield to maturity of on the following bond and choose the answer that comes closest to what you calculate. Assume that the bond is purchased in 2021 on the same day of the year that it was initially issued and its face value is $1,000.

Issuer Maturity Coupon Price

CIBC 2030 4.20% 97.50

a. 4.20%

b. 5.00%

c. 4.50%

d. 2.00%

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