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Complete problem: Yield to Maturity for Annual Payments XYZ Corporation s bonds have 1 4 years remaining to maturity. Interest is paid annually, the bonds

Complete problem: Yield to Maturity for Annual Payments
XYZ Corporations bonds have 14 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 10%. The bonds sell at a price of $950.
What is their yield to maturity? Show your work.

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