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The FrodoNeo Company has a bond outstanding with a face value of $1000 that reaches maturity in 15 years. The bond certificate indicates that the

The FrodoNeo Company has a bond outstanding with a face value of $1000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 10% and that the coupon payments are to be made semiannually. Assuming that this bond trades for $1200, what is the YTM (APR) for this bond? (You cannot use Excel functions for this question).

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