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MGM issued 2 0 year bonds 4 years ago at a coupon rate of 8 . 5 percent. The bonds make semiannual payments. If these

MGM issued 20 year bonds 4 years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments. If these bonds currently sell for 91.4 percent of par value, what is the YTM?

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