Island Telephone Corporation issued a $240,000 face value bond on March 21, 1989, carrying a 9.25%...

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Island Telephone Corporation issued a $240,000 face value bond on March 21, 1989, carrying a 9.25% coupon and 25 years to maturity. Global Financial Services purchased the bond on March 21, 1996, at which point the market rate was 8.25%, and sold it on September 21, 2008, for $307,186.03 when market rates were 4.9%. What yield did Global Financial Services realize on its investment? Number h Island Telephone Corporation issued a $240,000 face value bond on March 21, 1989, carrying a 9.25% coupon and 25 years to maturity. Global Financial Services purchased the bond on March 21, 1996, at which point the market rate was 8.25%, and sold it on September 21, 2008, for $307,186.03 when market rates were 4.9%. What yield did Global Financial Services realize on its investment? Number h

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