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A 6.95 percent coupon bond with 16 years left to maturity is offered for sale at $1,035.30. What yield to maturity is the bond offering?

A 6.95 percent coupon bond with 16 years left to maturity is offered for sale at $1,035.30. What yield to maturity is the bond offering? (Assume interest payments are semiannual.)(Round your answer to 2 decimal places.)

Yield to maturity

%

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