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Josh Kavern bought 10-year, 10.8 percent coupon bonds issued by the U.S. Treasury three years ago at $902.98. If he sells these bonds, for which
Josh Kavern bought 10-year, 10.8 percent coupon bonds issued by the U.S. Treasury three years ago at $902.98. If he sells these bonds, for which he paid the face value of $1,000, at the current price of $840.93, what is his realized yield on the bonds? Assume similar coupon paying bonds make annual coupon payments.
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