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Dewey, Cheatham & Howe, a regional brokerage house, has an issue of $ 1 , 0 0 0 par value bonds with 1 8 years

Dewey, Cheatham & Howe, a regional brokerage house, has an issue of $1,000 par value bonds
with 18 years left until maturity. The coupon rate is 7.7%, with semi-annual payments. If the current
price of the bond is $1,175, what is the bonds YTM? ANSWER WITH EXCEL

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