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Business, 30.10.2021 09:00 shanyeah

A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 11% semiannual coupon, are callable in 6 years at $1,208, and currently sell at a price of $1,366.91. What is their nominal yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.

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A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 11% semiannual coupon,...
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