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What is the yield to maturity of this bond

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Reference no: EM131020035

Fred is going to buy a 19 year bond that pays a coupon rate of 11.56% per year and has a $1,000 par value. The bond is currently priced at $1,326.92. What is the yield to maturity of this bond? Assume annual coupon payments. Show work. Round answer to two decimal places in percentage form.

Reference no: EM131020035

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