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I am having difficulty solving this problem. West Corp. issued 17-year bonds 2 years ago at a coupon rate of 10.3 percent. The bonds make
I am having difficulty solving this problem.
West Corp. issued 17-year bonds 2 years ago at a coupon rate of 10.3 percent. The bonds make semiannual payments. If these bonds currently sell for 102 percent of par value, what is the YTM?
I got as an answer 5.02% but this is wrong. Can you help find what I'm missing.
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