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The Timberlake-Jackson Wardrobe Co. has 9 percent coupon bonds on the market with seven years left to maturity. The bonds make annual payments. Required: If

The Timberlake-Jackson Wardrobe Co. has 9 percent coupon bonds on the market with seven years left to maturity. The bonds make annual payments. Required: If the bond currently sells for $1,180.70, what is its YTM? a 7.24% b 9.00% c 2.91% d 5.79% e 3.64% PLEASE EXPLAIN

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