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Suppose a firm has the following bond information: Years to maturity: 20 Coupon Rate: 4%, semi-annual payments Par Value: $1,000 Price: 95% of par value
Suppose a firm has the following bond information:
- Years to maturity: 20
- Coupon Rate: 4%, semi-annual payments
- Par Value: $1,000
- Price: 95% of par value
Calculate the yield-to-maturity (YTM) on the bond. (Enter percentages as decimals and round to 4 decimals).
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