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QUESTION
Watters Umbrella Corp. issued 20-year bonds two years ago at a coupon rate of 9.9 percent. The bonds make semiannual payments.
Watters Umbrella Corp. issued 20-year bonds two years ago at a coupon rate of 9.9 percent. The bonds make semiannual payments. If these bonds currently sell for 96 percent of par value, the YTM is percent.
