Question: Current Attempt in Progress Crane Corp issued 10-year bonds four years ago with a coupon rate of 11.270 percent. At the time of issue, the

Current Attempt in Progress Crane Corp issued 10-year bonds four years

Current Attempt in Progress Crane Corp issued 10-year bonds four years ago with a coupon rate of 11.270 percent. At the time of issue, the bonds sold at par. Today bonds of similar risk and maturity must pay an annual coupon of 8.65 percent to sell at par value. Assuming semiannual coupon payments. (a) What is the bond's yield to maturity? (Round answer to 2 decimal places, e.g. 15.25.) Bond's yield to maturity % e Textbook and Media Save for Later Attempts: 0 of 2 used Submit

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