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The bonds make semi annual payments

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Watters Umbrella Corp. issued 20-year bonds 2 years ago at a coupon rate of 8.6 percent. The bonds make semi annual payments. If these bonds currently sell for 107 percent of par value, what is the YTM? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).

Reference no: EM13847541

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