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Ashburn Corporation issued 15-year bonds 2 years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently sell
Ashburn Corporation issued 15-year bonds 2 years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently sell for 115 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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