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The market price of a semi-annual pay bond is $981.58. It has 19.00 years to maturity and a coupon rate of 7.00%. Par value is

The market price of a semi-annual pay bond is $981.58. It has 19.00 years to maturity and a coupon rate of 7.00%. Par value is $1,000. What is the effective annual yield? (Round to 4 decimal places)

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