Consider the Leverage Unlimited, Inc., zero coupon bonds of 2020. The bonds were issued in 2002 for $100. Determine the yield-to-maturity (to the nearest of 1 percent) if the bonds are purchased at the:

Issue price in 2002. (Note: To avoid a fractional year holding period, assume that the issue and maturity dates are at the midpointJuly 1of the respective years.)

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