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Smith Company has bonds outstanding with a face value of $1,000, coupon rate of 13%, paid semi-annually, and are priced in the market for a
Smith Company has bonds outstanding with a face value of $1,000, coupon rate of 13%, paid semi-annually, and are priced in the market for a price of $1,000. The bonds have 10 years left to maturity. The market rate of return (YTM) is _____%
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