Problem:
In order to calculate the number of years until maturity, assume that it is now January 15, 2013. The coupon rate for Xenon, Inc. is 6.70, the maturity date is January 15, 2033, that last price is 94.313, the last yield is unknown, and the EST $ vol. is 57,375 (in 000s).
Required:
Question 1: What is the yield to maturity for the bond issued by Xenon, Inc? Please explain in detail and provide all workings.