NadineLee983 NadineLee983

02-07-2024
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Cullumber Corp issued 10-year bonds four years ago with a coupon rate of 8.940 percent. At the time of issue, the bonds sold at par. Today bonds of similar risk and maturity must pay an annual coupon of 488 percent to sell at par value. Assuming semiannual coupon payments. What is the bond's yield to maturity?

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