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Company Z bonds currently sell for $1,250 and have a par value of $1,000. They pay a $105 annual coupon and have a 20-year maturity,

Company Z bonds currently sell for $1,250 and have a par value of $1,000. They pay a $105 annual coupon and have a

20-year maturity, but they can be called in 5 years at $1,100. What is their yield to maturity (YTM)?

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