A firm raises capital by selling $25 comma 00025,000 worth of debt with flotation costs...
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Accounting
A firm raises capital by selling
$25 comma 00025,000
worth of debt with flotation costs equal to
11%
of its par value. If the debt matures in
55
years and has an annual coupon interest rate of
1010%,
what is the bond's YTM?
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