Finding the yield to maturity
Ezzell Enterprises' noncallable bonds currently sell for $1,165. They have a 15-year maturity, an annual coupon of $95, and a par value of $1,000. What is their yield to maturity?
a) 6.20%
b) 6.53%
c) 6.87%
d) 7.24%
e) 7.62%
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