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A $10,000 par value bond that has a coupon rate of 9.18% (with quarterly payments) and matures exactly 28 years from today is currently selling
A $10,000 par value bond that has a coupon rate of 9.18% (with quarterly payments) and matures exactly 28 years from today is currently selling for $11,220.75. What is this bonds yield to maturity (YTM)?
Record answer as a percent rounded to 2 decimal places.
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