Question: Please help me solve this problem. X Your answer is incorrect. Crane Corp. has five-year semi-annual bonds outstanding that pay a coupon rate of 8.9

Please help me solve this problem.

X Your answer is incorrect. Crane Corp. has five-year semi-annual bonds outstanding that pay a coupon rate of 8.9 percent, these bonds are priced at $1,075.96. (Round answers to 2 decimal places, e.g. 15.25%.) What is the yield to maturity on these bonds? Yield to maturity 6.95 % Assume semiannual coupon payments. What is the effective annual yield? Effective annual yield 7.08 %

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