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A 10-year, 12 percent semiannual coupon bond, with a par value of $1,000 sells for $1,100. What is the bond's yield to maturity? (Do not

A 10-year, 12 percent semiannual coupon bond, with a par value of $1,000 sells for $1,100. What is the bond's yield to maturity? (Do not round intermediate calculations. Round your answer to 2 decimal places.

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