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1 . Raines Umbrella Corp. issued 2 0 - year bonds four years ago with a coupon rate of 6 . 5 percent. If these

1 .

Raines Umbrella Corp. issued

20 -

year bonds four years ago with a coupon rate of

6.5

percent. If these bonds currently sell at a price of

98,

what is their YTM

?

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