Question: Star Light & Power has junk bonds with a 4% coupon rate with 20 years to maturity. Assuming semi-annual coupons, what is the required return

Star Light & Power has junk bonds with a 4% coupon rate with 20 years to maturity. Assuming semi-annual coupons, what is the required return if the market price of the junk bonds is 82.50% of par?

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