Determining the yield to maturity of the bond

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Reference no: EM13738397

Problem:

LKM, Inc wants to issue new 20 year bonds for some much needed expansion projects. The company currently has bonds on the market that sell for $972.78, making semi-annual payments, with a 6.5% coupon rate.

Required:

Question: What is the yield to maturity of the bond?

Note: Please provide step by step solution.

Reference no: EM13738397

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