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A bond pays 8% coupons semiannually . The bond has a par value of $1,000 and matures in 10 years. If the current bond price

A bond pays 8% coupons semiannually. The bond has a par value of $1,000 and matures in 10 years. If the current bond price is $785, what is the yield to maturity of the bond?

Note: Write your answer in decimal (3 or more decimal places). For example, write 0.2544 instead of 25.44%.

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