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Crossfade Co. issued 16-year bonds two years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments. Required: If these bonds currently

Crossfade Co. issued 16-year bonds two years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments.

Required:

If these bonds currently sell for 109 percent of par value, what is the YTM?

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