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Lampard Inc. has 8 percent coupon bonds on the market with 12 years to maturity. The bonds make semiannual coupon payments and are currently selling

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Lampard Inc. has 8 percent coupon bonds on the market with 12 years to maturity. The bonds make semiannual coupon payments and are currently selling for $1080. What is the YTM on these bonds? Round your answer to four decimal places. 6.9932% 7.0035% 8% -7%

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