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Toxaway Telephone Company has $1,000 par value bond outstanding that pays 6% coupon rate. The bond will mature in 15 years and makes semi-annual payments.
Toxaway Telephone Company has $1,000 par value bond outstanding that pays 6% coupon rate. The bond will mature in 15 years and makes semi-annual payments. Compute the yield to maturity of the bond if the current price is:
a) $800
b) $900
c) $950
d) $1050
e) $1100
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