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A bond has semi - annual payments of $ 4 0 , a price of $ 1 0 4 0 , a face value of

A bond has semi-annual payments of $40, a price of $1040, a face value of $1000, and 15 years to maturity. What is its YTM?
Express this rate as an EAR (or EFF), and enter your answer as a percentage to two decimal places.

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