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Calculate the Yield to Maturity (YTM) for a $1,000 bond that pays a 7% annual coupon with 25 years to maturity. The required rate 8%.

Calculate the Yield to Maturity (YTM) for a $1,000 bond that pays a 7% annual coupon with 25 years to maturity. The required rate 8%. This bond is selling for $750 (enter answer as xx.xx% e.j 5.60%). (Detailed Calculation please)

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