Greenbrier Industrial Products' bonds have a 7.60 percent coupon and pay interest annually.The face value is $1,000 and the current market price is $1,062.50 per bond.The bonds mature in 16 years.What is the yield to maturity?
A) 6.94 percent
B) 7.22 percent
C) 7.46 percent
D) 7.71 percent
E) 7.80 percent
Correct Answer:
Verified
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