Crossfade co issued 16-year bonds two years ago at a coupon, Financial Management

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Crossfade co issued 16-year bonds two years ago at a coupon

Crossfade Co. issued 16-year bonds two years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments.

Required:

If these bonds currently sell for 109 percent of par value, what is the YTM? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Yield to maturity %

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Financial Management: Crossfade co issued 16-year bonds two years ago at a coupon

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Financial Management: Crossfade co issued 16-year bonds two years ago at a coupon

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