then the YTM for this bond is closest​ to:

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter6: Fixed-income Securities: Characteristics And Valuation
Section: Chapter Questions
Problem 13P
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Question
The Sisyphean Company has a bond outstanding with a face value of
$1,000
that reaches maturity in
8
years. The bond certificate indicates that the stated coupon rate for this bond is
9.7​%
and that the coupon payments are to be made semiannually.
 
Assuming that this bond trades for
$1,010​,
then the YTM for this bond is closest​ to:
 
A.
11.4​%
 
B.
7.6​%
 
C.
13.3​%
 
D.
9.5​%
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