What is the yield to maturity for these bonds

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Blue Crab, Inc. plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 10-year to maturity, carry a 15.88 percent annual coupon, and have a $1,000 par value. Blue Crab, Inc. has determined that these bonds would sell for $1,222 each. What is the yield to maturity for these bonds?

Reference no: EM131188079

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