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Watters Umbrella Corp. Issued 17-year bonds two years ago at a coupon rate of 10.6 percent. The bonds make semiannual payments. If these bonds currently

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Watters Umbrella Corp. Issued 17-year bonds two years ago at a coupon rate of 10.6 percent. The bonds make semiannual payments. If these bonds currently sell for 133.4 percent of par value, what is the YTM? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) YTM

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