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Leonard Cooper is looking to invest in a two-year bond from Big Bang Productions Corporation. The company makes semi-annual coupon payments of $60.00 (every 6

Leonard Cooper is looking to invest in a two-year bond from Big Bang Productions Corporation. The company makes semi-annual coupon payments of $60.00 (every 6 months) with a face value of $1,000. If the market price of the bonds is $1,040.00, what yield to maturity will Leonard earn (express as an EAR)?

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