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The bonds issued by United Corp. bear a coupon of 7 percent, payable semiannually. The bond matures in 1 4 years and has a $

The bonds issued by United Corp. bear a coupon of

7

percent, payable semiannually. The bond matures in

14

years and has a $

1, 000

face value. Currently, the bond sells at $

1038 .

The yield to maturity

(

YTM

)

________% .

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