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(Related to Checkpoint 9.2)(Yield to maturity)The market price is $1,200 for a 13-year bond ($1 comma 000 par value) that pays 11 percent annual interest,

(Related to Checkpoint 9.2)(Yield to maturity)The market price is $1,200 for a 13-year bond ($1 comma 000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity? The bond's yield to maturity is nothing%. (Round to two decimal places.)

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