It is now January 1st 2008 and you are considering the purchaseof an outstanding Puckett c
It is now January 1st 2008 and you are considering the purchaseof an outstanding Puckett corporation bond that was issued onJanuary 1 2006. The Puckett bond has a 9.5 percent annual couponand a 30-year original maturity (it matures on December 31, 2037).Interest rates have declined since the bond was issued, and thebond is now selling at 116.575 percent of the par value, or$1,165.75. What is the yield to maturity in 2008 for the Puckettbond (interest is paid annually). (Yield to Maturity) Pleaseinclude all formulas and steps to show how you achieved youranswer.