Elroy Investors is interested in purchasing the bonds of the Judy Company.Judy's bonds are currently priced at $1,100.00 and have 14 years to maturity.If the bonds have a 6% coupon rate what is the yield-to-maturity of these ANNUAL coupon paying bonds?
A) 5.00%
B) 4.99%
C) 2.50%
D) none of the above.
Correct Answer:
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