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RollTide Homes has a 25 bond issue outstanding that pays an 8.5 percent coupon and matures in 18.5 years. The bonds have a market price

RollTide Homes has a 25 bond issue outstanding that pays an 8.5 percent coupon and matures in 18.5 years. The bonds have a market price of $1014.20. What is the annual yield to maturity? With explanation

Group of answer choices

a. 4.18 percent

b. 8.35 percent

c. 8.36 percent

d. 9.25 percent

e. 8.61 percent

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