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Problem 6-33 Credit Risk (LO5) 10 points Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of

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Problem 6-33 Credit Risk (LO5) 10 points Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of 11%. However, there is a 50% chance that Casino will default and bondholders will receive nothing. What is the expected yield on the bonds? Assume these are zero coupon bonds with annual compounding. (Input the amount as a positive value and as a percent rounded to 1 decimal place.) Skipped Expected yield is a eBook Print References Problem 6-33 Credit Risk (LO5) 10 points Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of 11%. However, there is a 50% chance that Casino will default and bondholders will receive nothing. What is the expected yield on the bonds? Assume these are zero coupon bonds with annual compounding. (Input the amount as a positive value and as a percent rounded to 1 decimal place.) Skipped Expected yield is a eBook Print References

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