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# 1 8 . Bond Yields: PK . Software has 7 . 5 % coupon bonds on the market with 2 2 years to maturity.

18 .

Bond Yields:

.

Software has

7.5 %

coupon bonds on the market with

22

years to maturity. The bonds make semiannual payments and currently sell for

106 %

of par

What is the current yield on PK

s bonds??

The YTM

?

The effective annual yield?

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