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Johanson VI Advisors. issued $1000 par value bonds a few years ago with a coupon rate of 7 percent, paid semiannualy. After the bonds were

Johanson VI Advisors. issued $1000 par value bonds a few years ago with a coupon rate of 7 percent, paid semiannualy. After the bonds were issued, interests rates fell. Now with three years remaining before they mature, the bonds sell for $1,055.08. What YTM do these bonds offer?

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