Solved: Volbeat corporation has bonds on the market with 165 years, Financial Management

Volbeat corporation has bonds on the market with 165 years

Volbeat Corporation has bonds on the market with 16.5 years to maturity, a YTM of 10.6 percent, a par value of $1,000, and a current price of $942.

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 165 years

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Financial Management: Volbeat corporation has bonds on the market with 165 years

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