Volbeat corporation has bonds on the market with 155 years, Financial Management

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Volbeat corporation has bonds on the market with 155 years

Volbeat Corporation has bonds on the market with 15.5 years to maturity, a YTM of 10.4 percent, and a current price of $944. The bonds make semi-annual payments.

Required:

What must the coupon rate be on the bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16))

Coupon rate %

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Financial Management: Volbeat corporation has bonds on the market with 155 years

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Financial Management: Volbeat corporation has bonds on the market with 155 years

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