What Is the Approximate Yield on a 20-Year 10 Percent

question 35

Multiple Choice

What is the approximate yield on a 20-year 10 percent annual coupon LDC bond selling at 25 cents on the dollar? (choose the closest answer)

• A)10 percent.
• B)40 percent.
• C)14 percent.
• D)25 percent.
• E)Cannot be determined.

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