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Suppose a firm has the following bond information: Years to maturity: 8 Coupon Rate: 6%, semi-annual payments Par Value: $1,000 Price: 92% of par value

Suppose a firm has the following bond information:

Years to maturity: 8 Coupon Rate: 6%, semi-annual payments Par Value: $1,000 Price: 92% of par value

Calculate the yield-to-maturity (YTM) on the bond.

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