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Stein Co. issued 14-year bonds two years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bonds currently sell

Stein Co. issued 14-year bonds two years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bonds currently sell for 111 percent of par value, what is the YTM?

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