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A company has bonds on the market with 6 . 8 % coupon rate and 1 1 years left to maturity. The bonds make semiannual

A company has bonds on the market with

6.8 %

coupon rate and

11

years left to maturity. The bonds make semiannual payments and currently sell for

98.6 %

of year.what is the effective annual yield?

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