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Chen Corporation issued 2 5 - year bonds two years ago at a coupon rate of 5 . 6 percent. The bonds make semiannual payments.

Chen Corporation issued 25-year bonds two years ago at a coupon rate of 5.6 percent. The bonds make semiannual payments. If these bonds currently sell for 92 percent of par value, what is the YTM?Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.

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