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The Timberlake-Jackson Wardrobe Co. has 10.8 percent coupon bonds on the market with eight years left to maturity. The bonds make annual payments and have
The Timberlake-Jackson Wardrobe Co. has 10.8 percent coupon bonds on the market with eight years left to maturity. The bonds make annual payments and have a par value of $1,000. If the bonds currently sell for $1,129.70, what is the YTM?
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