What is the yield to maturity on the bonds for hytec bonds

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Problem 1: You are considering the purchase of Hytec bonds that were issued 14 years ago. When the bonds were originally sold, they had a 30-year maturity and a 14.375% coupon interest rate that is payable semiannually. The bond is currently selling for $1,508.72. What is the yield to maturity on the bonds?

1. 8.50%
2. 7.67%
3. 14.38%
4. 11.11%

Reference no: EM132646944

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