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TESLA, the disruptive car maker, has 7.8 percent coupon bonds on the market with 12 years left to maturity. The bonds have $1,000 face value
TESLA, the disruptive car maker, has 7.8 percent coupon bonds on the market with 12 years left to maturity. The bonds have $1,000 face value and make semiannual payments. They currently sell for 98.6 percent of par. What is the effective annual yield on the bonds?
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