Ajax Corporation issued 10,000 units of $1,000 face value bonds that mature in 20 years...
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Ajax Corporation issued 10,000 units of $1,000 face value bonds that mature in 20 years and have a 4% coupon rate that is paid semi-annually. If the bonds were sold at 96.5% of their face value, calculate the yield to maturity on the date of the issue. a. 4.26% b. 4.30% c. 4.38% d. 4.44% e. 4.50%
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