Sylvan trees has a 7 percent coupon bond on the market with, Ask an Expert

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Sylvan trees has a 7 percent coupon bond on the market with 10 years left to maturity. the bond makes annual payments and currently sells for $861.20. what is the yield-to-maturity?

a. 8.5 percent

b. 8.68 percent

c. 8.92 percent

d. 9.18 percent

e. 9.27 percent

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