Question
Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% coupon rate with semiannual coupon payments, and a $1,000 par value.The bond
Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% coupon rate withsemiannualcoupon payments, and a $1,000 par value.The bond offers a 6.50% yield to maturity, but it can be called in 6 years at a price of $1,120.What is the bond'syield to call?
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
