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QUESTION
Douglas bonds mature in 10 years and have an annual coupon rate of 10.5 percent with semiannual payments. The $1,000 par value bond currently trades...
Douglas bonds mature in 10 years and have an annual coupon rate of 10.5 percent with semiannual payments. The $1,000 par value bond currently trades at $1,105 in the market.
Compute the annual yield to maturity on the Douglas bond.
