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BT is considering investing in government bonds. The current price of a P100 bond with 10 years to maturity is P88. The bonds have a

BT is considering investing in government bonds. The current price of a P100 bond with 10 years to maturity is P88. The bonds have a coupon rate of 6% and repay face value of P100 at the end of the 10 years.

Required: Calculate the yield to maturity

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