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Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed

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Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to be redeemed at par. Bond Rate Time Before Market Face Value Payable Semi-annually Redemption Quotation $25,000 10% 9 years 96.25 The yield rate is %. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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