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The Timberlake-Jackson Wardrobe Co. has 10.1 percent coupon bonds on the market with ten years left to maturity. The bonds make annual payments and have

The Timberlake-Jackson Wardrobe Co. has 10.1 percent coupon bonds on the market with ten years left to maturity. The bonds make annual payments and have a par value of $1,000. If the bonds currently sell for $1,155.73, what is the YTM?

Yield to maturity=

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