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0.50 points Stein Co. issued 17-year bonds two years ago at a coupon rate of 8.6 percent. The bonds make semiannual payments. If these bonds

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0.50 points Stein Co. issued 17-year bonds two years ago at a coupon rate of 8.6 percent. The bonds make semiannual payments. If these bonds currently sell for 110 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percen places, e.g, 32.16.) Yield to maturity 3.78 % References eBook&Resources Worksheet Learning Objective: 06-02 Describe bond values and why they fluctuate Difficulty: 1 Basic Section: 6.1 Bonds and Bond Valuation 3 5 6 7 8

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