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Problem 7-14 Hoste Corp. issued a $1000 face value 20-year bond seven years ago with...

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Finance

Problem 7-14

Hoste Corp. issued a $1000 face value 20-year bond seven years ago with a 12% coupon rate. The bond is currently selling for $1143.75. What is its yield to maturity (YTM)? Assume bond coupons are paid semiannually. Round the answer to the nearest whole percentage.

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