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(Related to Checkpoint 9.2) (Yield to maturity) The market price is $750 for a 9-year bond ($1,000 par value) that pays 12 percent annual interest

(Related to Checkpoint 9.2) (Yield to maturity) The market price is $750 for a 9-year bond ($1,000 par value) that pays 12 percent annual interest but makes interest payments on a semiannual basis (6 percent semiannually). What is the bond's yield to maturity?

The bond's yield to maturity is _____%. (Round to two decimal places.)

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