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Markowitz Inc. issued bonds with an annual coupon rate of 5 percent. Coupons are paid semiannually. The bonds mature in 12 years and have a

Markowitz Inc. issued bonds with an annual coupon rate of 5 percent. Coupons are paid semiannually. The bonds mature in 12 years and have a $1,000 face value. The bonds are currently selling at par. What is the yield to maturity

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