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Ackerman Co. has 10 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments. If the bond currently

Ackerman Co. has 10 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments. If the bond currently sells for $965.16, what is its YTM? Assume a par value of $1,000.

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