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Please make sure to include detailed step-by-step calculations. If possible, describe what you are doing in each step so I can learn the methodology for

Please make sure to include detailed step-by-step calculations. If possible, describe what you are doing in each step so I can learn the methodology for future problems. Will leave a thumbs up regardless! Thank you :)

Suppose a 12 percent, $1,000 bond with 7 years left to maturity is selling for $1,208.25. What is the YTM assuming the interest is paid annually

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