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Corrigan Paper Products Inc. issued $100 million of bonds with a coupon interest rate of 11.75%, a par value of $1,000, and semi-annual interest payments.

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Corrigan Paper Products Inc. issued $100 million of bonds with a coupon interest rate of 11.75%, a par value of $1,000, and semi-annual interest payments. If the bonds have 12 years to maturity and a current price of $988.83, what is the annual yield to maturity? 11.927406% 12.430956% 11.437477% 11.657214% 5.963703%

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