(36) Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 26 years. The bonds have an annual coupon rate of 18.0% with quarterly coupon payments. The current market price for the bonds is $875. The bonds may be called in 5 years for 118.0% of par. What is the quoted annual yield-to-maturity for the bonds?
5.15% |
20.59% |
21.70% |
24.33% |
39.14% |
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