8. Burleigh Grimes purchased at por a bond with a face value of $1.00%). The...
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8. Burleigh Grimes purchased at por a bond with a face value of $1.00%). The bond had five years to maturity and a 10% coupon rate. The bond was called two years Inter for a price of $1,200, after making its second annual interest paymeni. Burleigh then reinvested the proceeds in a bond selling at its face value of $1,000, with three years to maturity and a 7% coupon rate. What was Burleigh's actual yield-to- maturity over the five-year period
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