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Two years ago, Braemar Corp. issued 12-year bonds with a face value of $1,000 and a coupon rate of 7.1%. The bonds make semi-annual payments.

Two years ago, Braemar Corp. issued 12-year bonds with a face value of $1,000 and a coupon rate of 7.1%. The bonds make semi-annual payments. If these bonds currently sell for 105% of par value, what is the YTM?(show calculation)

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