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Peerless Securities has an issue of $1000 par value bonds with 10 years remaining to maturity . The bonds pays 8% interet on an annual

Peerless Securities has an issue of $1000 par value bonds with 10 years remaining to maturity . The bonds pays 8% interet on an annual basis . the current market price of the bonds is $1020. what is the yield to maturity of the bonds?

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