The bonds issued by Jordache Jewelers of Toronto bear a 7.5% coupon, payable semiannually. The bonds mature in 13 years and have a $1,000 face value. Currently, the bonds sell at par. What is the yield to maturity?
A) 7.33%
B) 7.41%
C) 7.46%
D) 7.50%
E) 7.67%
Correct Answer:
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