Bare Trees United issued 20-year bonds 3 years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments. If these bonds currently sell for 91.4 percent of par value, what is the YTM?
A) 8.98 percent
B) 9.53 percent
C) 9.13 percent
D) 9.27 percent
E) 8.42 percent
Correct Answer:
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