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A 7.5 percent coupon bond has a face value of $1,000, pays interest semi-annually, has 8 years to maturity, and is currently selling for $996.34.

A 7.5 percent coupon bond has a face value of $1,000, pays interest semi-annually, has 8 years to maturity, and is currently selling for $996.34. What is the yield-to-maturity?

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