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Penguin Software has 9 . 4 percent coupon bonds on the market with 1 9 years to maturity. The bonds make semiannual payments and currently

Penguin Software has

9.4

percent coupon bonds on the market with

19

years to maturity. The bonds make semiannual payments and currently sell for

107.5

percent of par.

What is the current yield on the bonds?

What is the YTM

?

What is the effective annual yield?

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