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(Related to Checkpoint 9.2) (Yield to maturity) Abner Corporation's bonds mature in 16 years and pay 11 percent interest annually. If you purchase the bonds

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(Related to Checkpoint 9.2) (Yield to maturity) Abner Corporation's bonds mature in 16 years and pay 11 percent interest annually. If you purchase the bonds for $1,050, what is your yield to maturity? Your yield to maturity on the Abner bonds is %. (Round to two decimal places.)

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