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Dawgpound Incorporated has a bond trading on the secondary market that will mature in four years. The bond pays an annual coupon with a coupon

Dawgpound Incorporated has a bond trading on the secondary market that will mature in four years. The bond pays an annual coupon with a coupon rate of 9.75%. Dawgpound bonds currently trade at $904.00, with a face value of $1,000. If you purchase the bond at this price, what is your yield to maturity?

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