Question
Under Armour's bonds currently sell for $980 and have a par value of $1,000. They pay a $75 annual coupon and have a 15-year maturity,
Under Armour's bonds currently sell for $980 and have a par value of $1,000. They pay a $75 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,100. What is their yield to maturity (YTM)?
Group of answer choices
7.73%
6.78%
5.94%
7.06%
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Financial Markets And Institutions
Authors: Jeff Madura
10th Edition
1285531507, 9781285531502
