One more time software has 94 percent coupon bonds on the


One More Time Software has 9.4 percent coupon bonds on the market with 15 years to maturity. The bonds make semiannual payments and currently sell for 98.0 percent of par.

(a) What is the current yield on the bonds?

(b) YTM?

(c) The effective annual yield?

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Financial Management: One more time software has 94 percent coupon bonds on the
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