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Sommers Co.'s bonds currently sell for $1,030.05 and have a par value of $1,000. They pay a $92.00 annual coupon and have a 18-year maturity,
Sommers Co.'s bonds currently sell for $1,030.05 and have a par value of $1,000. They pay a $92.00 annual coupon and have a 18-year maturity, but they can be called in 8 years at $1,105.00. What is their yield to maturity (YTM)?
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