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The Sisyphean Company has a bond outstanding with a face value of $T 1 , 0 0 0 that reaches maturity in 1 5 years.

The Sisyphean Company has a bond outstanding with a face value of $T

1, 000

that reaches maturity in

15

years. The bond certificate indicates that the stated coupon rate for this bond is

8 %

and that the coupon payments are to be made semi

-

annually. Required: Assuming that this bond trades for $

1, 035.44,

then the YTM for this bond is equal to:

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