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Skolits Corp. issued 20-year bonds 2 years ago at a coupon rate of 7.4 percent. The bonds make semiannual payments. If these bonds currently sell

Skolits Corp. issued 20-year bonds 2 years ago at a coupon rate of 7.4 percent. The bonds make semiannual payments. If these bonds currently sell for 104 percent of par value, what is the YTM?

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