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David Davis bought 10-year bonds issued by Harvest Foods five years ago for $ 937.95. The bonds make semiannual coupon payments at a rate of
David Davis bought 10-year bonds issued by Harvest Foods five years ago for $ 937.95. The bonds make semiannual coupon payments at a rate of 8.4 percent. If the current price of the bonds is $ 1,048.77, what is the yield that David would earn by selling the bonds today? (Round answer to 2 decimal places, e.g. 15.25%.)
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