(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation) The 14-year $1,000 par bonds of...
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(Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation) The 14-year $1,000 par bonds of Vail Inc. pay 11 percent interest The market's required yield to maturity on a comparable-risk bond is 9 percent. The current market price for the bond is $1,050. a. Determine the yield to maturity, b. What is the value of the bonds to you given the yield to maturity on a comparable-risk bond? a. What is your yield to maturity on the Val bonds given the current market price of the bonds? \%. (Round to two decimal places:)
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