(Answered) Keenan industries has a bond outstanding with 15 years to

Finance

Keenan Industries has a bond outstanding with 15 years to maturity, an 8.25% nominal coupon, semiannual payments and a $1,000 par value. The bond has a 6.50% nominal yield to maturity but it can be called in 6 years at a price of $1,120. What is the bond's nominal yield?

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