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( Related to Checkpoint 9 . 2 ) ( Yield to maturity ) Abner Corporation's bonds mature in 1 9 years and pay 9 percent

(

Related to Checkpoint

9.2) (

Yield to maturity

)

Abner Corporation's bonds mature in

19

years and pay

9

percent interest annually. If you purchase the bonds for $

1, 100,

what is your yield to maturity?

Your yield to maturity on the Abner bonds is

% . (

Round to two decimal places.

)

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