How the market would set the yield to maturity.

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Blue crab, INC, plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 30- year to maturity, carry a 11.14 % annual coupon, and have a $1,000 par value. Blue crab, Inc. has determined that these bonds would sell for $952 each. What is the yield to maturity for these bonds?

Round answer two decimal place. (Show in excel or financial calculator)

Reference no: EM13813371

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