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Macy's Corporation issued 7 percent coupon bonds that have 9 years left to maturity. If the bonds currently sell for $1,038.50, what is the YTM?

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Macy's Corporation issued 7 percent coupon bonds that have 9 years left to maturity. If the bonds currently sell for $1,038.50, what is the YTM? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.. 32.16.) Yield to maturity

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