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Grace Industries issued a 20-year bond 3 years ago; the bond has a $1,000 face value and a 6% coupon rate. If the bond currently

Grace Industries issued a 20-year bond 3 years ago; the bond has a $1,000 face value and a 6% coupon rate. If the bond currently sells on the market for $744, what is the required rate of return? (Hint: close to the nearest discount rate)

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Grace Industries issued a 20-year bond 3 years ago; the bond has a $1,000 face value and a 6% coupon rate. If the bond currently sells on the market for $744, what is the required rate of return? (Hint: close to the nearest discount rate)

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