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Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of 1 9 % . However, there is
Suppose that Casino Royale has issued bonds that mature in year. They currently offer a yield of However, there is a chance that Casino will default and bondholders will receive nothing. What is the expected yield on the bonds?
Note: Input the amount as a positive value and as a percent rounded to decimal place.
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