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Suppose the following bond quotes for IOU Corporation appear in the financial page of todays newspaper. Assume the bond has a face value of $1,000

Suppose the following bond quotes for IOU Corporation appear in the financial page of todays newspaper. Assume the bond has a face value of $1,000 and the current date is April 19, 2012. What is the yield to maturity of the bond? (Assume coupons are paid semiannually.)

Company (Ticker) Coupon Maturity Last Price Last Yield EST Vol (000s)

IOU (IOU) 9.3 Apr 19, 2028 106 ?? 1,845

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