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Seven years ago, the Goodyear Tire & Rubber Company issued a series of 20-year coupon bonds. These bonds have a coupon rate of 5.25% paid
Seven years ago, the Goodyear Tire & Rubber Company issued a series of 20-year coupon bonds. These bonds have a coupon rate of 5.25% paid semiannually, a face value of $1,000, and were originally issued at par. An investor recently purchased 100 of these bonds for a total cost of $91,106 ($911.06 per bond). What is the implied yield-to-maturity of these bonds based upon this transaction price
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