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Two years ago, May Industries issued a bond with nine years until maturity. Currently, the bond sells for $ 9 1 8 . The bond
Two years ago, May Industries issued a bond with nine years until maturity. Currently, the bond sells for $ The bond has a coupon rate of percent. What is the percentage yield to maturity of the bond? The company pays coupons semiannually.
Note: Round your answer to four decimal places; Use a financial calculator to solve this problem, and document the key sequences entered, like NPMTCF etc.
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