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Ackerman Co. has 7 percent coupon bonds on the market with 8 years left to maturity. The bonds make annual payments. If the bond currently

Ackerman Co. has 7 percent coupon bonds on the market with 8 years left to maturity. The bonds make annual payments. If the bond currently sells for $1,063.25, what is its YTM? Answer with 4 decimals (e.g. 0.0123)

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