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A Lemmy Co. bond has an 11 percent coupon and pays interest semi-annually. The face value is $1,000 and the current market price is $1,268.10.

A Lemmy Co. bond has an 11 percent coupon and pays interest semi-annually. The face value is $1,000 and the current market price is $1,268.10. The bond matures in 16 years. What is the yield to maturity?

2.00 percent

4.00 percent

12.00 percent

6.00 percent

8.00 percent

Please show your work.

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