Calculating the current yield

Reference no: EM1364086

Ajax Corporation has a bond with a coupon rate of 12 percent, maturing in 15 years at a value of $1000 per bond. The current market price is $960. What will the current yield be? A)12.7%, B)12.5%, C)11.5%, D)none of the above

Reference no: EM1364086

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