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New Earth Corp. issued 20-year bonds two years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently

New Earth Corp. issued 20-year bonds two years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently sell for 105 percent of par value, what is the yield to maturity? (Show your working using trial and error method)

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