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A Japanese firm issued 2 0 - year bonds two years ago at a coupon rate of 7 . 5 0 percent. The bonds make

A Japanese firm issued 20-year bonds two years ago at a coupon rate of 7.50 percent. The bonds make semiannual payments. These bonds currently sell for 98 percent of par value. The par value is JPY 10,000. Calculate the yield-to-maturity (YTM)!

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