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Chelsea purchased a 1 0 year par value bond with 6 % semiannual coupons at a price of 9 9 7 . 5 0 .

Chelsea purchased a 10 year par value bond with 6% semiannual coupons at a price of 997.50. The bond can be called at par value 1200 on any coupon date starting at the end of year 5. What is the minimum yield that Chelsea could recieve, expressed as a nominal annual rate convertible semiannually?

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