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Suppose that General Electric has a bond issue that has 8 years until maturity. The bond pays a 6.00% annual coupon rate with semi-annual coupons,

Suppose that General Electric has a bond issue that has 8 years until maturity. The bond pays a 6.00% annual coupon rate with semi-annual coupons, and has a face value of $1,000. The bond currently trades at $980.00. What is the yield to maturity on this bond? (express as an effective annual rate)

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