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Drake Machinery has 8.2% annual coupon bonds outstanding with a current market price of $932. The yield to maturity is 9.5 percent and the face
Drake Machinery has 8.2% annual coupon bonds outstanding with a current market price of $932. The yield to maturity is 9.5 percent and the face value is $1,000. How many years is it until these bonds mature? 7.39 years (B) 6.83 years (C) 6.66 years (D) 7.57 years (E) 8.14 years
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