Attempts

Keep the Highest $/3$

$3.$ Problem $13-04$

Problem $13-04$

Carrie's Clothes, Inc. has a seven$-$year bond outstanding that pays $$60$ annually. The face value of each bond is $$1,000,$ and the bond sells for $$860.$

a$.$ What is the bond's coupon rate? Round your answer to two decimal places.

$\%$

b$.$ What is the current yield? Round your answer to two decimal places.

$\%$

c$.$ What is the yield to maturity? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest whole number. $\%$