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Suppose a bond is currently trading at a price of $922.71, pays an semiannual coupon, and has 25 years left to maturity. Find the coupon
Suppose a bond is currently trading at a price of $922.71, pays an semiannual coupon, and has 25 years left to maturity. Find the coupon rate on this bond if the face value is $1,000, and the YTM = 22.92%.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter percentage answers as a positive percentage % rounded to 2 decimal places. For example 0.123456 should be enter as: 12.35 (##.##)
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