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Crane Corp. management plans to issue seven-year zero coupon bonds. It has learned that these bonds will sell today at a price of $443.96. Assuming
Crane Corp. management plans to issue seven-year zero coupon bonds. It has learned that these bonds will sell today at a price of $443.96. Assuming annual coupon payments, what is the yield to maturity on the bonds? Assume face is $1,000. (Round answer to 3 decimal places, e.g. 15.251\%.) Yield to maturity
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