Klapol, Inc. has a 20-year bond issue outstanding that pays a 7.5% coupon. The bonds are currently priced at $987.50 and have a par value of $1,000. Interest is paid semi-annually. What is the yield to maturity?
A) 7.43%
B) 7.47%
C) 7.62%
D) 7.65%
E) 7.70%
Correct Answer:
Verified
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