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Find which have been market yield for bonds of similar risk

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Question 1: On August 1, 2016, Spartan Corp. issued bonds with a face value of $15 million and a coupon rate of 6.75%. The bonds mature in 20 years, and semi-annual interest is paid on January 31 and July 31. If the bonds were sold for $13,383,216, which of the following could have been the market yield for bonds of similar risk and maturity on the date the bonds were issued?

Option a. 5.125%

Option b. 75%

Option c. Cannot be determined with the information provided

Option d. 7.825%

Reference no: EM132518452

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