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May Industries has a bond outstanding that sells for $783. The bond has a coupon rate of 8.20 percent and 16 years until maturity. What

May Industries has a bond outstanding that sells for $783. The bond has a coupon rate of 8.20 percent and 16 years until maturity. What is the yield to maturity of the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

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