$1,000 face value bond with 22 years to maturity and a 7.2% coupon (coupons paid semiannually) recently sold for $1,063.66. The return on this bond is?

Intermediate Financial Management (MindTap Course List)
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Author:Eugene F. Brigham, Phillip R. Daves
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Chapter4: Bond Valuation
Section: Chapter Questions
Problem 7P: Bond Valuation with Semiannual Payments Renfro Rentals has issued bonds that have a 10% coupon rate,...
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Q.A $1,000 face value bond with 22 years to maturity and a 7.2% coupon (coupons paid semiannually)

recently sold for $1,063.66. The return on this bond is?

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