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Broke Benjamin Company has a bond outstanding that makes semiannual payments with a coupon rate of 5 . 6 percent. The bond sells for $

Broke Benjamin Company has a bond outstanding that makes semiannual payments with a coupon rate of

5.6

percent. The bond sells for $

958.56

and matures in

20

years. The par value is $

1, 000 .

What is the YTM of the bond?

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