Problem:
Springfield Nuclear Energy Inc. bonds are currently trading at $1,105.38. The bonds have a face value of $1,000, a coupon rate of 9.5% with coupons paid annually, and they mature in 15 years.
Required:
Question: What is the yeild to maturity of the bonds?
Question: The yield to maturity of the bonds is _____%
Note: Please provide reasons to support your answer.