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The market price is $ 7 7 5 for a 1 0 - year bond ( $ 1 , 0 0 0 par value )

The market price is $775 for a 10-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity?

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