Culpepper Supply has a bond issue outstanding that pays a 7.5% coupon and matures in 14 years. The bonds have a par value of $1,000 and a market price of $942.90. Interest is paid semiannually. What is the yield to maturity?
A) 7.50%
B) 7.67%
C) 8.19%
D) 8.60%
E) 9.45%
Correct Answer:
Verified
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