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A Japanese company has a bond outstanding that sells for 8 9 percent of its 1 0 0 , 0 0 c par value. The

A Japanese company has a bond outstanding that sells for 89 percent of its 100,00 c
par value. The bond has a coupon rate of 4.8 percent paid annually and matures in 19
years. What is the yield to maturity of this bond? (Do not round intermediate
calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,
32.16.)
Answer is complete but not entirely correct.
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