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Sommers Co.'s bonds currently sell for $980 and have a par value of $1,000. They pay a 10% annual coupon and have a 15-year maturity.

Sommers Co.'s bonds currently sell for $980 and have a par value of $1,000. They pay a 10% annual coupon and have a 15-year maturity. What is their yield to maturity (YTM)?

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