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The market price is $925 for a 19-year bond (1,000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual
The market price is $925 for a 19-year bond (1,000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bond's yield to maturity?
The bond's yield to maturity is ?%
(Round to two decimal places.)
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Principles Of Corporate Finance
Authors: Richard A Brealey, Stewart C Myers, Franklin Allen
8th Edition
0073130826, 9780073130828
