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A firm's bonds have a maturity of 8 years and a $1,000 face value. These bonds pay a semi-annual coupon rate of 3% and currently

A firm's bonds have a maturity of 8 years and a $1,000 face value. These bonds pay a semi-annual coupon rate of 3% and currently sell for $969.34. The bonds are callable in 2 years at a call price of $1,030.00. What is the yield to maturity (YTM) on these bonds?

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