What is the effective annual yield

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Reference no: EM131064660

PK Software has 8 percent coupon bonds on the market with 23 years to maturity. The bonds make semiannual payments and currently sell for 109.25 percent of par.

What is the effective annual yield? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Effective annual yield %

Reference no: EM131064660

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