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A company issued a 3-year $1,000,000 4% coupon bond with a 30% default risk, which...

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Accounting

A company issued a 3-year $1,000,000 4% coupon bond with a 30% default risk, which means the bondholders would only receive $600 for each $1,000 par value on default. What will be the YTM (market rate of interest) of this bond? [Round your initial present value discount factor to 4 decimal places in your computations AND enter the YTM answer in decimal format (not % format) using 4 decimal places as follows 0.####]

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