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Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,900, and have 20 years remaining to maturity. Annual

Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,900, and have 20 years remaining to maturity. Annual interest payment is 19.5 percent ($195), paid semiannually.

Compute the approximate yield to maturity. (Round the final answer to 2 decimal places.)

Approximate yield to maturity %

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