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A $1,000 par value bond sells for $765. It matures in 15 years, has a 10 percent coupon and pays interest annually. The bond's yield

A $1,000 par value bond sells for $765. It matures in 15 years, has a 10 percent coupon and pays interest annually. The bond's yield to maturity is _-_\%. (Round the answer to the nearest whole number.)

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