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Messenger, Inc. bonds have a 6% coupon rate with semiannual coupon payments and a $1,000 par value. The bonds have 11 years until maturity, and
Messenger, Inc. bonds have a 6% coupon rate with semiannual coupon payments and a $1,000 par value. The bonds have 11 years until maturity, and yield to maturity is 8%. What is the current yield for Messenger's bonds?
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To determine the current yield we first need to calculate the annual coupon payment The bond has a 6 ...
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th International Edition
1265533199, 978-1265533199
