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Stanley company issues corporate bond to raise money for a new investment project. The bonds have the following characteristics 10 years to maturity 9% coupon

Stanley company issues corporate bond to raise money for a new investment project. The bonds have the following characteristics 10 years to maturity 9% coupon rate Coupons paid semiannually The company can raise $880.50 with each bond . What is the yield to maturity?

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