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Cillian Corp's bonds have 1 2 years remaining to maturity. Interest is paid annually, the bonds have a $ 1 , 0 0 0 par

Cillian Corp's bonds have

12

years remaining to maturity. Interest is paid annually, the bonds have a $

1, 000

par value, and the coupon interest rate is

6.5 % .

The bonds sell at a price of $

850 .

What is their yield to maturity?

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