ch 13 Last year (hint), The ABC Corporation had issued 8% coupon (semi-annual), 20-year, AA-rated bonds (Par value = $1000) to finance its business growth. If investors are currently offering $1200 on each of these bonds, what is their expected yield to maturity on the investment?

hint: make sure to adjust n and PMT accordingly. You are solving for I/YR

round to the nearest 2 decimal places, no percent sign, use whole number like on your calculator. For example, if your answer is 7.56%, type 7.56