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Dolphin World has outstanding $1,000 face value 8% coupon bonds that make semiannual payments and have 14 years remaining to maturity. If the current price

Dolphin World has outstanding $1,000 face value 8% coupon bonds that make semiannual payments and have 14 years remaining to maturity. If the current price for these bonds is $1,118.74.

Compute the annualized yield to maturity.

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