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A company has a bond outstanding that sells for 89 percent of its $100,000 par value. The bond has a coupon rate of 5.6 percent

A company has a bond outstanding that sells for 89 percent of its $100,000 par value. The bond has a coupon rate of 5.6 percent paid annually and matures in 18 years. What is the yield to maturity of this bond?

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