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Three years ago you purchased a 12% coupon bond that pays semiannual coupon payments for $984. What would be your bond equivalent yield if you

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Three years ago you purchased a 12% coupon bond that pays semiannual coupon payments for $984. What would be your bond equivalent yield if you sold the bond for current market price of $1,060 ? Your bond equivalent yield, if you sold the bond for current market price, is \%. (Round to two decimal places.)

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