Question: Suppose a firm has the following bond information: Years to maturity: 10 Coupon Rate: 6%, semi-annual payments Par Value: $1,000 Price: 115% of par value

Suppose a firm has the following bond information:

  • Years to maturity: 10
  • Coupon Rate: 6%, semi-annual payments
  • Par Value: $1,000
  • Price: 115% of par value

Calculate the yield-to-maturity (YTM) on the bond. (Enter percentages as decimals and round to 4 decimals).

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