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(Related to Checkpoint 9.2) (Yield to maturity) Hoyden Co.'s bonds mature in 15 years and pay 11 percent interest annually. Hyou purchase the bonds for

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(Related to Checkpoint 9.2) (Yield to maturity) Hoyden Co.'s bonds mature in 15 years and pay 11 percent interest annually. Hyou purchase the bonds for $1,300, what is their yield to maturity? The yield to maturity on the Hoyden bonds is \%. (Round to two decimal places.)

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