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Shores Corporation bond has a $1000 par value 9% annual coupon, semiannual-pay with 8 years left to maturity. The current price of this bond is

Shores Corporation bond has a $1000 par value 9% annual coupon, semiannual-pay with 8 years left to maturity. The current price of this bond is $1,175. The annual effective YTM is closest to?

 

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