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Watters Umbrella Corp. issued 15-year bonds 2 years ago at a coupon rate of 5.6 percent. The bonds make semiannual payments. If these bonds currently

Watters Umbrella Corp. issued 15-year bonds 2 years ago at a coupon rate of 5.6 percent. The bonds make semiannual payments. If these bonds currently sell for 90 percent of par value, what is the YTM?

YTM = ______? percentage

(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places,

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