Problemwatters umbrella corp issued 30-year bonds 2 years, Ask an Expert

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Problem:

Watters Umbrella Corp. issued 30-year bonds 2 years ago at a coupon rate of 5.8 percent. The bonds make semiannual payments. If these bonds currently sell for 95 percent of par value,

Required:

What is the YTM?

Note: Explain all steps comprehensively.

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