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Hermes Innovations currently has twelve-year. $1,000 par value bonds outstanding that trade at a price of $813.73 and with a yield to maturity of 14.60%
Hermes Innovations currently has twelve-year. $1,000 par value bonds outstanding that trade at a price of $813.73 and with a yield to maturity of 14.60% APR. Investors receive interest payments on these bonds from Hermes Innovations nine times per year. Given the above information, which of the following is closest to the annual coupon rate on Hermes Innovations's bond? a. 14.2% O b. 11.3% O c. 11.8% O d. 12.9% e. 12.3% f. 14.6% Og 14.9% 0 h. 13.5%
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