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Tony's Pizzeria plans to issue bonds with a par value of $1,000 and 12 years to maturity. These bonds will pay $40 interest every 6

Tony's Pizzeria plans to issue bonds with a par value of $1,000 and 12 years to maturity. These bonds will pay $40 interest every 6 months. Current market conditions are such that the bonds will be sold to net $748.99. What is the YTM of the issue as a broker would quote it to an investor?

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