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A $1000 par value bond has a coupon rate of 5.8%, pays interest semi-annually, matures in 24 years, and is priced at a 48.6 discount
A $1000 par value bond has a coupon rate of 5.8%, pays interest semi-annually, matures in 24 years, and is priced at a 48.6 discount from par value. What is the annual yield to maturity of this bond? (Answer to the nearest one hundedth of a percent, i.e., 1.23 but do not include the % sign).
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