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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 $7,000 The yield rate is %. Bond Rate Payable Semi-annually 6% Time Before Maturity 7 years Market Quotation 102.25 (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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