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A Japanese company has a bond outstanding that sells for 89.5 par percent of its 1,000 par value. The bond has a coupon rate of

A Japanese company has a bond outstanding that sells for 89.5 par percent of its 1,000 par value. The bond has a coupon rate of 12 percent paid par annually and matures in 18 years, the YTM is .................. percent

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