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Assume the market price of a 7-year bond for Margaret Inc. is $1,100, and it has a par value of $1,000. The bond has an

Assume the market price of a 7-year bond for Margaret Inc. is $1,100, and it has a par value of $1,000. The bond has an annual interest rate of 9% that is paid semiannually. What is the yield to maturity of the bond?

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