Firm raises capital by selling

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A firm raises capital by selling $20,000 worth of debt with flotation costs equal to 3?% of its par value. If the debt matures in 15 years and has an annual coupon interest rate of 9?%, what is the? bond's YTM?

The? bond's YTM is ?%. ?(Round to two decimal? places.)

Reference no: EM131597417

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