Suppose the following bond quote for IOU Corporation appears in the financial page of today's newspaper. Assume the bond has a face value of $1,000, and the current date is April 15, 2016.
Company
(Ticker) |
Coupon |
Maturity |
Last
Price |
Last
Yield |
EST Vol
(000s) |
| IOU (IOU) |
8.70 |
Apr 15, 2034 |
91.655 |
?? |
1,839 |
|
What is the yield to maturity of the bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Yield to maturity