Question: 06 O A company is trying to estimate the cost of debt for a new project. For their estimate, they will find the yield

06 O A company is trying to estimate the cost of debt

06 O A company is trying to estimate the cost of debt for a new project. For their estimate, they will find the yield to maturity on existing company bonds. They have one outstanding bond issue at the moment that will mature in 15.00 years. The bond pays an annual coupon of 9.00 %, with a face value of $1,000. The bond currently trades at 91.00% of face value. What is the yield to maturity on the existing debt? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) Show Hint

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