Kevin has a $2000 bond with a 5% coupon. Kevin purchased this bond for $2075. What is the yield of this new bond? A) 4.8%

B) 5%

C) 5.2%

D) 4.7%

Find the mistake made in the steps to solve the equation below. a. the justification for step 2 is incorrect and should be the subtraction property of equality. b. step 2 is incorrect and should be . c. step 3 is incorrect and should be . d. the justification for step 3 is incorrect and should be the multiplication property of equality.