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1.The 8.5 percent ANNUAL coupon bonds of Eberly, Inc., WITH INTEREST PAID SEMI-ANNUALLY are currently selling for $1130.12. The bonds have a face value of

1.The 8.5 percent ANNUAL coupon bonds of Eberly, Inc., WITH INTEREST PAID SEMI-ANNUALLY are currently selling for $1130.12. The bonds have a face value of $1,000 and mature in 12 years. What is the yield to maturity required by purchasers of the bond today? (7 POINTS)

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