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Rachel McGovern bought a 1 4 - year bond for $ 9 2 5 . 4 2 today. The bond pays a coupon of 1

Rachel McGovern bought a

14 -

year bond for $

925.42

today. The bond pays a coupon of

12

percent annually. What would be the yield to maturity of this bond?

(

Round to the nearest percent.

)

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