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Near West, Corp. issued 15-year bonds seven years ago at a coupon rate of 4.25 percent. The bonds make semiannual payments. If these bonds currently

Near West, Corp. issued 15-year bonds seven years ago at a coupon rate of 4.25 percent.

The bonds make semiannual payments. If these bonds currently sell for 93.25 percent of par value, what is the YTM?

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