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Backwater Corp. has 3.2% coupon bonds making annual payments with a yield to maturity of 2.5%. The current yield on these bonds is 2.9%. How
Backwater Corp. has 3.2% coupon bonds making annual payments with a yield to maturity of 2.5%. The current yield on these bonds is 2.9%. How many years do these bonds have left until they mature? (Round your final answer to two decimal places.)
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