Calculate the yield to maturity on this bond

Calculate the yield to maturity on this bond

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Reference no: EM131535412

The Salem Company bond currently sells for $1,650.89, has a coupon interest rate of 13% and a $1,000 par value, pays interest annually, and has 16 years to maturity. Calculate the yield to maturity on this bond (Round to three decimals)

Reference no: EM131535412

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