Question: CTR Ltd issued a corporate bond 6 years ago. This 22-year 9.9 percent bond was issued at a par value of $1000. Coupons are paid

CTR Ltd issued a corporate bond 6 years ago. This 22-year 9.9 percent bond was issued at a par value of $1000. Coupons are paid semi-annually. The bond is currently selling at $886.95. Calculate the current yield to maturity for this bond.

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