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Hotels & Resorts Inc. issued 30-year bonds five years ago at a coupon rate of 7.5 percent. The bonds make semiannual payments. If these bonds

Hotels & Resorts Inc. issued 30-year bonds five years ago at a coupon rate of 7.5 percent. The bonds make semiannual payments. If these bonds currently sell for 101 percent of par value, what is the YTM on the bonds?

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