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Bakes A Lot, Inc., has $1,000 face value bonds outstanding. These bonds pay interest semi-annually, mature in 3 years, and have a 8.0 percent coupon.

Bakes A Lot, Inc., has $1,000 face value bonds outstanding. These bonds pay interest semi-annually, mature in 3 years, and have a 8.0 percent coupon. The current price is quoted at 98.59. What is the yield to maturity?

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