A $1000 par value bonds pays an 8% APR coupon semiannually. If the bond has...
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Finance
A $1000 par value bonds pays an 8% APR coupon semiannually. If the bond has 10 years to maturity and a YTM of 10%, what is its after-tax current yield for an investor paying 25% taxes?
Answer: D. 6.9%
Please explain how to find this by hand without using Excel.
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