The Timberlake-Jackson Wardrobe Co. has 11 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments.
If the bond currently sells for $1,139.59, what is its YTM?
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Assuming bond face value is $1000, C = 110
YTM = C + (F-P)/n divided by F+P /2
=110 + 1000-1139.59/ 9 divided by 1000+1139.59 /2
= 94.49 / 1069.8
i think the answer is wrong
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