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A coupon bond that pays interest of $60 annually has a par value of $1000, matures in 4 years, and is selling today at

" A coupon bond that pays interest of $60 annually has a par value of $1000, matures in 4 years, and is selling today at a $75 discount from par value. The yield to maturity on this bond is _________. Note: Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05"

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