Question: *SHOW WORK WITHOUT USING EXCEL* The AAA Corporation has coupon bonds with a $1,000 par value, a 15% annual coupon rate, and currently sell for

*SHOW WORK WITHOUT USING EXCEL*

The AAA Corporation has coupon bonds with a $1,000 par value, a 15% annual coupon rate, and currently sell for $938.45. Is the following statement true or false: the Yield to Maturity (YTM) is greater than 15%.

a) true

b) false

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