Question: please show the steps and the formula used Chapter 7: Interest Rates and Bond Valuation 1. A Japanese company has a bond outstanding that sells

please show the steps and the formula used Chapter 7: Interest Rates and Bond Valuation 1. A Japanese company has a bond outstanding that sells for 105.43% of its 100,000 par value. The bond has a coupon rate of 3.4% paid semiannually and matures in 6 years. What is the yield to maturity of this bond? **HINT: we need to use the trial and error approach with excel** [10 pts]

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