What is the yield to maturity for the bonds

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Question: Blue Crab, Inc plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 15-year to maturity, carry a 12.11 percent annual coupon, and have a $1,000 par value. Blue Crab, Inc has determined that these bonds would sell for $1, 185 each. What is the yield to maturity for these bonds? Round the answers to two decimal places in percentage form. (Write the percentage sign in the "unit's" box). You should use Excel or financial calculator.

Reference no: EM131945859

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