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Jackson Corporation issued 20-year $20 million of face value bonds that have a coupon rate...

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Finance

Jackson Corporation issued 20-year $20 million of face value bonds that have a coupon rate of 5% paid annually. The bonds were issued at 97.5. Given this information, calculate the yield to maturity.

Can someone write a formula out on paper and show how they did the calculations? I'm not getting anywhere close to the answer.

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