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A bond with a maturity of 18 years sells for 1108 if the

A bond with a maturity of 18 years sells for $1,108. If the coupon rate is 7.6 percent, what is the yield to maturity of the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Yield to maturity %

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Financial Management: A bond with a maturity of 18 years sells for 1108 if the

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