Question: show every step using formulas no excel or financial calculator allowed Dynamo Corporation has semiannual bonds outstanding with 12 years to maturity, and the bonds

show every step using formulas no excel or financial calculator allowed

Dynamo Corporation has semiannual bonds outstanding with 12 years to maturity, and the bonds are currently priced at $1.080.29. If the bonds have a coupon rate of 8 percent, then what is the equivalent annual return (EAR) to the investor for purchasing the bonds at the stated price? 3.5% 8.00% 7.00% 7.12%

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