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Milvaney Supplies issued 1 2 - year 6 . 6 percent semiannual coupon bonds 6 years ago. The bonds sell for 1 1 8 percent

Milvaney Supplies issued 12-year 6.6 percent semiannual coupon bonds 6 years ago. The bonds sell for 118 percent of par value today. What is the yield-to-maturity on these bonds?

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