A $1,000 bond with a coupon rate of 8.2% and 23 years remaining to maturity has a current market value of $1,196. Determine the yield to maturity.
A) 9.337% compounded semiannually
B) 7.551 % compounded semiannually
C) 4.863 % compounded semiannually
D) 6.540 % compounded semiannually
E) 10.187 % compounded semiannually
Correct Answer:
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