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QUESTION
Watters Umbrella Corp. issued 15-year bonds 2 years ago at a coupon rate of 9.6 percent. The bonds make semiannual payments. If these bonds currently...
Watters Umbrella Corp. issued 15-year bonds 2 years ago at a coupon rate of 9.6 percent. The bonds make semiannual payments. If these bonds currently sell for 97 percent of par value, what is the YTM?
