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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

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. Face Value $24,000 Bond Rate Payable Semi-annually Time Before: Redemption Market Quotation 9% 5 years 95.875 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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