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(Related to Checkpoint 9.2) (Yield to maturity) Hoyden Co's bonds mature in 12 years and pay 7 percent interest annually. If you purchase the bonds

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(Related to Checkpoint 9.2) (Yield to maturity) Hoyden Co's bonds mature in 12 years and pay 7 percent interest annually. If you purchase the bonds for $925, what is their yield to maturity? The yield to maturity on the Hoyden bonds is \%. (Round to two decimal places)

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