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16. (Optional Question) Culpepper Supply has a bond issue outstanding that pays a 7.5 percent coupon and matures in 14 years. The bonds have a

16. (Optional Question) Culpepper Supply has a bond issue outstanding that pays a 7.5 percent coupon and matures in 14 years. The bonds have a par value of $1,000 and a market price of $942.90. Interest is paid semiannually. What is the yield to maturity?

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