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New Jersey Lighting has a 7% coupon bond maturing in 17 years. Solutions in excel

(Yield to maturity) New Jersey Lighting has a 7% coupon bond maturing in 17 years.

Corporate Financial Management, Third Edition –
Chapter 5 - A5. (Yield to maturity) New Jersey Lighting Solutions in excel

LEVEL A (BASIC)

A5. (Yield to maturity) New Jersey Lighting has a 7% coupon bond maturing in 17 years. The current market price of the bond is $975. What is the bond’s yield to maturity?