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Arvind Corporation has outstanding $1,000, 9.25% semi-annual coupon bonds. The bonds have sixteen years remaining to maturity. If the current price for these bonds is

Arvind Corporation has outstanding $1,000, 9.25% semi-annual coupon bonds. The bonds have sixteen years remaining to maturity. If the current price for these bonds is $1,118.74, what is the annualized yield to maturity

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