Mokna Corporation issued bonds on January 1, 2008. The bonds have a coupon rate of 7.0%, with interest paid semiannually.
The face value of the bonds is $1,000 and the bonds mature on January 1, 2028. What is the yield to maturity for a Mokna Corporation bond on January 1, 2020 if the market price of the bond on that date is $965? Get Finance homework help today