A bond issued by the Needy Corporation pays an 8% coupon, matures in ten years, and is selling for its face value of $1,000.The yield-to-maturity on this bond is:
A) less than its coupon rate of 8%.
B) greater than its coupon rate of 8%.
C) equal to its coupon rate of 8%.
D) indeterminable with the information provided.
Correct Answer:
Verified
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