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Wuuri op Use the method of averages to find the approximate yield rate for the bond shown in the table below. The bond is to

Wuuri op 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 Time Before Bond Rate Payable Market Face Value Semi-annually Maturity Quotation $5000 7% 8 years 97.375 The yield rate is 1% (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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