Question
McConnell Corporation has bonds on the market with 19 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current
McConnell Corporation has bonds on the market with 19 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current price of $1,136.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?
- 15.42%
- 8.85%
- 7.70%
- 17.52%
- 8.75%
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Auditing Principles A Systems Based Approach
Authors: Howard F. Stettler
5th Edition
0130517224, 9780130517227
