Problemlkm inc wants to issue new 20 year bonds for some, Ask an Expert

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Problem:

LKM, Inc wants to issue new 20 year bonds for some much needed expansion projects. The company currently has bonds on the market that sell for $972.78, making semi-annual payments, with a 6.5% coupon rate.

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Question: What is the yield to maturity of the bond?

Note: Please provide step by step solution.

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Category:- Basic Finance
Reference No.:- M91296739

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