Question
The Petit Chef Co. has 11.8 percent coupon bonds on the market with eight years left to maturity. The bonds make annual payments and have
The Petit Chef Co. has 11.8 percent coupon bonds on the market with eight years left to maturity. The bonds make annual payments and have a par value of $1,000.
If the bonds currently sell for $1,124.97, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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Essentials of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
10th edition
1260013955, 1260013952, 978-1260013955
