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Bond Yields. Arno Bay Wine Ltd has 7% coupon bonds on the market with nine years left to maturity. The bonds make annual payments and

Bond Yields. Arno Bay Wine Ltd has 7% coupon bonds on the market with nine years left to maturity. The bonds make annual payments and have a face value of $1000. If the bond currently sells for $1038.50, what is its YTM?

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