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There is a 12.5% coupon bond with 20 years to maturity. The current selling price of the bond is 20% less than the par value

There is a 12.5% coupon bond with 20 years to maturity. The current selling price of the bond is 20% less than the par value of the bond. Calculate its YTM.

Note: Show ba 2 plus keys wherever applicable. Do not use excel. Show calculations and workings.

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