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It has an annual coupon rate of 1046 percent paid

Question

Frest Fruit, Inc. has a $1,000 par value bond that is currently selling for $981. It has an annual coupon rate of 10.46 percent, paid semiannually, and has 18-years remaining until maturity. What would the annual yield to maturity be on the bond if you purchased the bond today and held it until maturity?

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Finance Basics: It has an annual coupon rate of 1046 percent paid

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