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The market price is $775 for a 13-year bond ($1,000 parvalue) that pays 11 percent annualinterest, but makes interest payments on a semiannual basis (5.5

The market price is $775 for a 13-year bond ($1,000 parvalue) that pays 11 percent annualinterest, but makes interest payments on a semiannual basis (5.5 percentsemiannually). What is thebond's yield tomaturity?

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