Two years ago espirit de corps sold 250 million worth of, Financial Management

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Two years ago espirit de corps sold 250 million worth of

Two years ago, Espirit De Corps sold $250 million worth of bonds at $1,000 each. The bonds had a maturity of 12 years when they were originally issued and a coupon rate of 12%. Today these bonds are selling for $910. Determine the yield-to-maturity (to the nearest tenth of one percent)

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Financial Management: Two years ago espirit de corps sold 250 million worth of

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