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A drawback of current yield is that it does not consider the total life of the bond. For example, the approximate yield to maturity on

A drawback of current yield is that it does not consider the total life of the bond. For example, the approximate yield to maturity on Bond X is

9.90

percent. What is the approximate yield to maturity on Bond Z

?

The exact yield to maturity?

(

Do not round intermediate calculations. Input your answers as a percent rounded to

2

decimal places.

)

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