Problem:
Ackerman Co. has 12 percent coupon bonds on the market with eleven years left to maturity. The bonds make annual payments.
Required:
Question: If the bond currently sells for $1,073.83, what is its YTM?
- 12.35%
- 11.73%
- 13.22%
- 10.82%
- 15.22%
Note: Be sure to show how you arrived at your answer.