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Key and Peele Industrial Products' bonds have a 7.60 percent coupon and pay interest annually. The face value is $1,000 and the current market price

Key and Peele Industrial Products' bonds have a 7.60 percent coupon and pay interest annually. The face value is $1,000 and the current market price is $1,062.50 per bond. The bonds mature in 16 years. What is the yield to maturity? Please show all work!

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