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3. Problem 10-16 (calculator version) Douglas bonds mature in 10 years and have an annual coupon rate of 10.5 percent with semiannual payments. The $1.000

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3. Problem 10-16 (calculator version) Douglas bonds mature in 10 years and have an annual coupon rate of 10.5 percent with semiannual payments. The $1.000 par value bond currently trades at $1,105 in the market. Compute the annual yield to maturity on the Douglas bond. (Do not round intermediate calculations. Round the final answer to 2 decimal places.) % Yield to maturity

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