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cullumber corp issued 1 0 year bonds four years ago with a coupon rate of 9 . 5 1 5 / At the time of
cullumber corp issued year bonds four years ago with a coupon rate of At the time of issue, the bonds sold at par. Today bonds of similar risk and maturity must pay an annual coupon of percent to sell at pat value. Assuming semiannual coupon paymemtns. What is the bonds yield to maturity?
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