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J&J Inc. just issued a bond with a $1,000 face value and a coupon rate of 6.00%. The bond has a life of 20 years,

J&J Inc. just issued a bond with a $1,000 face value and a coupon rate of 6.00%. The bond has a life of 20 years, pays semi- annual coupons, and is selling for $1,125. What is the Yield to Maturity for this bond?

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