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The 7 percent bonds issued by Modern Kitchens pay interest semiannually, mature in eight years, and have a $ 1 , 0 0 0 face

The 7 percent bonds issued by Modern Kitchens pay interest semiannually, mature in eight years, and have a $1,000 face value. Currently, the bonds sell for $1,032. What is the yield to maturity?
6.87 percent
6.92 percent
6.08 percent
6.48 percent
7.20 percent
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