Willamson Inc.'s bonds have a coupon rate of 12% and a par value of $1,000. The bonds have 15 years left to maturity. If Williamson's bonds are currently selling for $1,430, calculate their yield to maturity. Assume semiannual coupon payments.
A) 3.1%
B) 5.3%
C) 7.2%
D) 9.8%
Correct Answer:
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