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One More Time Software has 9.4 percent coupon bonds on the market with 6 years to maturity. The bonds make semiannual payments and currently sell

One More Time Software has 9.4 percent coupon bonds on the market with 6 years to maturity. The bonds make semiannual payments and currently sell for 107.7 percent of par. Required: (a) What is the current yield on the bonds? (b) The YTM? (c) The effective annual yield?

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