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Bond Returns and YTM You buy a(n) 10.9% coupon, 16-year maturity bond for $1,804.01. A year later, the bond price is $779.39. a. What is

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Bond Returns and YTM You buy a(n) 10.9\% coupon, 16-year maturity bond for $1,804.01. A year later, the bond price is $779.39. a. What is the new yield to maturity on the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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