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The Salem Company bond currently sells for $1315.47,has a coupon interest rate of 18 % and a $ 1000 par value, pays interestannually,and has 11

The Salem Company bond currently sells for $1315.47,has a coupon interest rate of 18 % and a $ 1000 par value, pays interestannually,and has 11 years to maturity.

a. The yield to maturity on this bond is ____%.

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