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Bonds issued by Risk-Key Lenders Inc. bear a 16% coupon rate, payable semiannually. The bonds mature in 14 years and have a $1,000 face value.

Bonds issued by Risk-Key Lenders Inc. bear a 16% coupon rate, payable semiannually. The bonds mature in 14 years and have a $1,000 face value. Currently the bonds sell for $955. What is the yield to maturity?

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