What is the annualized yield to maturity of the bond

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Bounty Inc. has outstanding a fixed coupon, $1,000 par value bond with 15 years remaining until maturity. The bond makes semi-annual coupon payments and the annual coupon rate is 7 percent. If the bond currently sells at a price of $825 per bond, what is the annualized yield to maturity of the bond?

Reference no: EM131354325

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