Question: Fincorp issues two bonds with 15 -year maturities. Both bonds are callable at $1.080. The first bond is issued at a deep discount with a

Fincorp issues two bonds with 15 -year maturities. Both bonds are callable at $1.080. The first bond is issued at a deep discount with a coupon rate of 7% and a price of $520 to yleld 15.6%. The second bond is issued at par value with a coupon rate of 16.50% Required: a. What is the yield to maturity of the par bond? (Round your answer to 2 decimal places.)

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