Aurand Inc. has outstanding bonds with an 8% coupon paid semiannually. The bonds have a par value of $1,000, a current price of $904, and will mature in 14 years. What is their yield?
A) 15.80%
B) 10.47%
C) 9.24%
D) 7.90%
E) 4.62%
Correct Answer:
Verified
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