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Sandhill, Inc., has a 10-year bond that is priced at $1,060.00. It has a coupon rate of 8 percent paid semiannually. What is the yield

Sandhill, Inc., has a 10-year bond that is priced at $1,060.00. It has a coupon rate of 8 percent paid semiannually. What is the yield to maturity on this bond? (Round answer to 2 decimal places, e.g. 52.75%.)

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