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Last year the XYZ corporation had issued 7.0% coupon(semi annual),30 year AA-rated bonds with a...

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Accounting

Last year the XYZ corporation had issued 7.0% coupon(semi annual),30 year AA-rated bonds with a face value of $1,000 to nance its business expansion. As of today, the market price of XYZ's bonds are $900. What is the current yield to maturity and how can the bonds be classied?

do not use a chart or financial calculator. Step by step

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