Adams Enterprises' noncallable bonds currently sell for $910. They have a 15-year maturity, an annual coupon of $85, and a par value of $1,000. What is their yield to maturity?
A. 7.34%
B. 9.66%
C. 8.60%
D. 9.95%
E. 11.21%
Answer: B
Business
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