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Footsteps Company has a bond outstanding with a coupon rate of 5 . 4 percent and annual payments. The bond currently sells for $ 1

Footsteps Company has a bond outstanding with a coupon rate of

5.4

percent and annual payments. The bond currently sells for $

1, 004.44,

matures in

18

years, and has a par value of $

1, 000 .

What is the YTM of the bond?

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