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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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