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A $5000, 14.5% bond with semi-annual coupons redeemable at par on August 1, 2022, was purchased on March 5, 2011, at 95.5. What was the

A $5000, 14.5% bond with semi-annual coupons redeemable at par on August 1, 2022, was purchased on March 5, 2011, at 95.5. What was the approximate yield rate?

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