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The Fishing Pier has 7.40 percent, semi-annual bonds outstanding that mature in 12 years. The bonds have a face value of $1,000 and a market

The Fishing Pier has 7.40 percent, semi-annual bonds outstanding that mature in 12 years. The bonds have a face value of $1,000 and a market value of $1,127. What is the yield to maturity?

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