Question: Problem 7-14 Hoste Corp. issued a $1000 face value 20 year bond seven years ago with a 12% coupon rate. The bond is currently selling

Problem 7-14 Hoste Corp. issued a $1000 face value 20 year

Problem 7-14 Hoste Corp. issued a $1000 face value 20 year bond seven years ago with a 12% coupon rate. The bond is currently selling for $1536.31. What is its yield to maturity (YTM)? Assume bond coupons are paid semiannually. Round the answer to the nearest whole percentage. X 96

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