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Suppose you are looking to invest in a $1,000 par value semi-annual bond, with an annual coupon rate of 9%, but pays interest semi-annually. If

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Suppose you are looking to invest in a $1,000 par value semi-annual bond, with an annual coupon rate of 9%, but pays interest semi-annually. If the bond has 14 year left to maturity and if the bond is quoted at 96, what is the yield-to-maturity of the bond? (Round your answer to 2 decimal point)

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