A bond investor is analyzing the following annual coupon bonds: Issuing Company Annual Coupon Rate Johnson...

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A bond investor is analyzing the following annual coupon bonds: Issuing Company Annual Coupon Rate Johnson Incorporated 6% Smith, LLC 12% Irwin Corporation 9% Each bond has 10 years until maturity and the same level of risk. Their yield to maturity (YTM) is 9%. Interest rates are assumed to remain constant over the next 10 years. BOND VALUE ($) 1200 1100 1000 900 800 700 B 600 10 8 6 A C 4 2 0 YEARS TO MATURITY A bond investor is analyzing the following annual coupon bonds: Issuing Company Annual Coupon Rate Johnson Incorporated 6% Smith, LLC 12% Irwin Corporation 9% Each bond has 10 years until maturity and the same level of risk. Their yield to maturity (YTM) is 9%. Interest rates are assumed to remain constant over the next 10 years. BOND VALUE ($) 1200 1100 1000 900 800 700 B 600 10 8 6 A C 4 2 0 YEARS TO MATURITY