[Solved] 2. Elmhurst Inc. bonds bearing a coupon r

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2. Elmhurst Inc. bonds bearing a coupon rate of 10%, pay coupons semiannually, have 9 years remaining to maturity, and are currently priced at $960

2. Elmhurst Inc. bonds bearing a coupon rate of 10%, pay coupons semiannually, have 9 years remaining to maturity, and are currently priced at $960 per bond. The bonds have a face value of $1,000. What is the yield to maturity on these bonds?

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