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1.a.Bonds issued by the TRM Corporation have a par value of $1,000, are selling for $1,100, and have 15 years remaining to maturity. The annual

1.a.Bonds issued by the TRM Corporation have a par value of $1,000, are selling for $1,100, and have 15 years remaining to maturity. The annual interest payment is 11 percent. Compute the approximate yield to maturity(2 marks)

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