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The bonds issued by Alcoa Aluminum, bear a 7 percent coupon, payable semiannually. The bonds mature in 12 years and have a $1,000 face value.

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The bonds issued by Alcoa Aluminum, bear a 7 percent coupon, payable semiannually. The bonds mature in 12 years and have a $1,000 face value. Currently, the bonds sell for $989. What is the yield to maturity

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