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Cool Fire, Incorporated, has 7.2 percent bonds outstanding that mature in 15 years. The bonds pay interest semiannually and have a face value of $1,000.

Cool Fire, Incorporated, has 7.2 percent bonds outstanding that mature in 15 years. The bonds pay interest semiannually and have a face value of $1,000. Currently, the bonds are selling for $975. What is the yield to maturity on the bonds?

Multiple Choice

7.95%

7.78%

7.61%

7.04%

7.48%

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