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A bond with a face value of $5,000 pays interest of 8% per year. The bond will be redeemed at par value at the end

A bond with a face value of $5,000 pays interest of 8% per year. The bond will be redeemed at par value at the end of its 20 year life, and the first interest payment is due one year from now. If the bond is purchased now for $4,600, what annual yield would the buyer receive?

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