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Ackerman Co. has 7 percent coupon bonds on the market with six years left to maturity. The bonds make annual payments. If the bond currently

Ackerman Co. has 7 percent coupon bonds on the market with six years left to maturity. The bonds make annual payments. If the bond currently sells for $862.23, what is its YTM? Assume a par value of $1,000.

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