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Three years ago you purchased a 11 % coupon bond that pays semiannual coupon payments for $988 . What would be your bond equivalent yield

Three years ago you purchased a 11 % coupon bond that pays semiannual coupon payments for $988 . What would be your bond equivalent yield if you sold the bond for current market price of $1 comma 043 ?

Your bond equivalent yield, if you sold the bond for current market price, is enter your response here %. (Round to two decimal places.)

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