Question: Please show all work. Will like for corrdct answer. eBook Problem 22-08 An investor purchases a bond for $936. The bond pays $55 a year

Please show all work. Will like for corrdct answer.

eBook Problem 22-08 An investor purchases a bond for $936. The bond pays $55 a year for three years and then matures (it is redeemed for $1,000). What is the internal rate of return on that investment? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest whole number. The internal rate of return on a bond is This return can be also called as yield to maturity

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