Junk bonds: JC Penney has a CCC- rated corporate bond outstanding. There are 4 years remaining...

Junk bonds: JC Penney has a CCC- rated corporate bond outstanding. There are 4 years remaining to maturity. The bond has a 5.75% coupon and closed at 85.372. Find the bond’s yield to maturity.

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As nothing was mentioned excel is used.

jeff jeffy answered 2 hours ago

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