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Subway bonds have a 6.2% coupon rate and semiannual coupons. They have a par value of $1000, 16 years to maturity and are currently selling

Subway bonds have a 6.2% coupon rate and semiannual coupons. They have a par value of $1000, 16 years to maturity and are currently selling for $894.54. What is the YTM for these bonds? (NOTE: Round your answer to two decimal places and report it as a percent: for 1.55% you would write 1.55)

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