Company has an outstanding bond issue with a 7-7/8 coupon, market price of 103-5/8 (percent of 100% par, in 32nds.), semiannual coupon payments, and 12 years to maturity.
What is the YTM of this? Please show calculations.© BrainMass Inc. brainmass.com December 20, 2018, 5:00 am ad1c9bdddf
YTM and cost of debt are determined in the solution.