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Evans Emergency Response bonds have 5 years to maturity. Interest is paid semiannually. The bonds have a $1,100 par value and a coupon rate of
Evans Emergency Response bonds have 5 years to maturity. Interest is paid semiannually. The bonds have a $1,100 par value and a coupon rate of 8 percent. If the price of the bond is $1,080.57, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
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