A coupon bond that pays interest of $40 semi-annually has a par value of $1,000, matures in four years, and is selling today at a $36 discount from par value. The yield to maturity on this bond is
A. 8.69%.
B. 9.09%.
C. 10.43%.
D. 9.76%.
E. None of the options are correct.
B. 9.09%.
FV = 1,000, PMT = 40, n = 8, PV = 964, i = 9.09%.
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