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A corporation has an outstanding bond with the following characteristics: Coupon interest rate 6.0% Interest payments semiannually Face value $1,000.00 Years to maturity 8 Current

A corporation has an outstanding bond with the following characteristics:

Coupon interest rate 6.0%

Interest payments semiannually

Face value $1,000.00

Years to maturity 8

Current market value $ 902.81

What is the yield to maturity (YTM) for this bond?

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