Calculating the yield to maturity

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Reference no: EM13107922

What is the yield to maturity of a 16-year bond that pays a coupon rate of 8% per year, has a $1,000 par value, and is currently priced at $916? Round your answer to the nearest whole percent and assume semi-annual coupon payments.
a) 18%
b) 11%
c) 9%
d) 7.5%

Reference no: EM13107922

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