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A corporation has an outstanding bond with the following characteristics: Coupon interest rate - 6% Interest payments - semiannually Face value - $1,000 Years to

A corporation has an outstanding bond with the following characteristics: Coupon interest rate - 6% Interest payments - semiannually Face value - $1,000 Years to maturity - 8 Current market value $902.81 What is the yield to maturity (YTM=rd) for this bond? PLEASE SHOW WORKING.

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