Aspen Company's non-callable bonds currently sell for $985. They have a 15-year maturity, an annual coupon of $70, and a par value of $1,000. What is their yield to maturity? Your answer should be between 6.65 and 8.80, rounded to 2 decimal places, with no special characters.

Aspen Company's non-callable bonds currently sell for $985. They have a 15-year maturity, an annual coupon of $70, and a par value of $1,000. What is their yield to maturity? Your answer should be between 6.65 and 8.80, rounded to 2 decimal places, with no special characters.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter22: Corporations: Bonds

Section: Chapter Questions

Problem 1CE

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Question

Aspen Company's non-callable bonds currently sell for $985. They have a 15-year maturity, an annual
coupon of $70, and a par value of $1,000. What is their yield to maturity?
Your answer should be between 6.65 and 8.80, rounded to 2 decimal places, with no special characters.

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