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1. A corporation has an outstanding bond with the following characteristics: Coupon rate 9.5% Interest payments Semi-annually Face value $1,000 Years to maturity 23 Current

1. A corporation has an outstanding bond with the following characteristics:

Coupon rate 9.5%

Interest payments Semi-annually

Face value $1,000

Years to maturity 23

Current market value $1,182.40

Find the yield to maturity (YTM) for this bond.

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