Volbeat corporation has bonds on the market with 11 years, Financial Management

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Volbeat corporation has bonds on the market with 11 years

Volbeat Corporation has bonds on the market with 11 years to maturity, a YTM of 9.5 percent, a par value of $1,000, and a current price of $946. The bonds make semiannual payments.

What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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Financial Management: Volbeat corporation has bonds on the market with 11 years

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Financial Management: Volbeat corporation has bonds on the market with 11 years

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