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16. A $1,000 par value bond sells for $1,216. It matures in 20 years, has a 48 percent coupon, pays interest semiannually, and can be

16. A $1,000 par value bond sells for $1,216. It matures in 20 years, has a 48 percent coupon, pays interest semiannually, and can be called in 5 years at a price of $1197. What is the bond's Yield -to-Call?

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