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The market price is $725 for a 12-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual

The market price is $725 for a 12-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? Question content area bottom Part 1 The bond's yield to maturity is

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