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Palmer Products has outstanding bonds with an annual 10.4 percent coupon. The bonds have a par value of $1,000 and a price of $1,027. The

Palmer Products has outstanding bonds with an annual 10.4 percent coupon. The bonds have a par value of $1,000 and a price of $1,027. The bonds will mature in 13 years. What is the yield to maturity on the bonds? 11.02% 9.02% 10.02% 10.52% 9.52%

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