Question regarding the bond yield to maturity


Problem:

Intercontinental Baseball Manufacturers (IBM) has an outstanding bond with a $1,000 face value that matures in 10 years. The bond, which pays $25 interest every six months ($50 per year), is currently selling for $598.55.

Requirement:

Question: What is the bond's yield to maturity?

Note: Show supporting computations in good form.

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Accounting Basics: Question regarding the bond yield to maturity
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