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Bonds issued by Walmart have a par value of $1,000, are selling for $1,390, and have 20 years remaining to maturity. The annual interest payment

Bonds issued by Walmart have a par value of $1,000, are selling for $1,390, and have 20 years remaining to maturity. The annual interest payment is 13.5% ($135), paid semiannually.

Compute the approximate yield to maturity, don't round the intermediate calculation, and round the final answer to 2 decimal places.

Approximate yield to maturity= __%

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