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A firm raises capital by selling $25 comma 00025,000 worth of debt with flotation costs equal to 11% of its par value. If the debt

A firm raises capital by selling

$25 comma 00025,000

worth of debt with flotation costs equal to

11%

of its par value. If the debt matures in

years and has an annual coupon interest rate of

1010%,

what is the bond's YTM?

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