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Company Y is issuing bonds. They plan to issue 10,000, $1000 par, 6% bonds that pay semi-annual for 5 years. If the bond price is

Company Y is issuing bonds. They plan to issue 10,000, $1000 par, 6% bonds that pay semi-annual for 5 years.

If the bond price is $980, what is the market annual rate-of-return? keep two decimal places (in percentage)

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