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Realized yield: Josh Kavern bought ten-year, 12 percent coupon bonds issued by the U.S. Treasury three years ago at $913.44. If he sells these bonds,

Realized yield: Josh Kavern bought ten-year, 12 percent coupon bonds issued by the U.S. Treasury three years ago at $913.44. If he sells these bonds, which have a face value of $1,000, at the current price of $804.59, what is the realized yield on the bonds? Assume similar coupon-paying bonds make annual coupon payments.

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