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IBMs bonds have 5 years remaining to maturity. Coupons are paid semi-annually. The bonds have a $1,000 par value, and the coupon rate is 10%.

IBMs bonds have 5 years remaining to maturity. Coupons are paid semi-annually. The bonds have a $1,000 par value, and the coupon rate is 10%. The current price of the bonds is $850. What is their yield to maturity?

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