New Markets has $1,000 face value bonds outstanding that pay interest semiannually,mature in 14.5 years,and have a 4.5 percent coupon.The current price is quoted at 97.6.What is the yield to maturity?
A) 5.32 percent
B) 4.73 percent
C) 4.92 percent
D) 5.13 percent
E) 5.27 percent
Correct Answer:
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