Yield to maturity of this bond-annual coupon payments

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Dan 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 currently priced at $1,326.92? What is the yield to maturity of this bond? Assume annual coupon payments.

Round the answer to two decimal places in percentage form

All the work has to be shown!

Reference no: EM13766901


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