(See) Yield to maturity The Salem Company bond currently sells for $955, has a 12 \% coupon interest rate and a $1,000 par value, pays interest annually,
Question: Yield to maturity The Salem Company bond currently sells for $955, has a \(12 \%\) coupon interest rate and a $1,000 par value, pays interest annually, and has 15 years to maturity.
- Calculate the yield to maturity (YTM) on this bond.
- Explain the relationship that exists between the coupon interest rate and yield to maturity and the par value and market value of a bond.
Deliverable: Word Document 
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