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Warm-Up 9-1 (similar to) Question Help A firm raises capital by selling $18,000 worth of debt with flotation costs equal to 1% of its par

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Warm-Up 9-1 (similar to) Question Help A firm raises capital by selling $18,000 worth of debt with flotation costs equal to 1% of its par value. If the debt matures in 10 years and has an annual coupon interest rate of 7%, what is the bond's YTM? The bond's YTM is %. (Round to two decimal places.)

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