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A coupon bond that pays interest of $ 8 0 annually has a par value of $ 1 0 0 0 , matures in 7

A coupon bond that pays interest of $80 annually has a par value of $1000, matures in 7 years, and is selling today at $500. 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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