Yield to maturity of bond


Problem:

Dan is going to buy a 19-year bond that pays a coupon rate of 11.56% per year, and has a $1,000 par value. The bond currently priced at $1,326.92? What is the yield to maturity of this bond? Assume annual coupon payments.

Note: Please explain comprehensively and give step by step solution.

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Finance Basics: Yield to maturity of bond
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