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Patrick Star Enterprises has a 15-year bond issue outstanding that pays a 9 percent coupon. The bond is currently priced at $894.60 and has a

Patrick Star Enterprises has a 15-year bond issue outstanding that pays a 9 percent coupon. The bond is currently priced at $894.60 and has a par value of $1,000. Interest is paid semiannually. What is the yield to maturity?

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