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Evans Emergency Response bonds have 5 years to maturity. Interest is paid semiannually. The bonds have a $1,500 par value and a coupon rate of

Evans Emergency Response bonds have 5 years to maturity. Interest is paid semiannually. The bonds have a $1,500 par value and a coupon rate of 6 percent. If the price of the bond is $1,090.58, what is the annual yield to maturity?

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