Question: Hi I received the below test question as wrong and am trying to understand how to identify the correct answer in excel. Fresh Fruit, Inc.

Hi I received the below test question as wrong and am trying to understand how to identify the correct answer in excel. Fresh Fruit, Inc. has a $1,000 par value bond that is currently selling for $987. It has an annual coupon rate of 13.60 percent, paid semiannually, and has 21-years remaining until maturity. What would the annual yield to maturity be on the bond if you purchased the bond today and held it until maturity? Answer: 14.00 Incorrect Response (13.79) %

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