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XZYY, Inc. currently has an issue of bonds outstanding that will mature in 33 years. The bonds have a face value of $1,000 and a
XZYY, Inc. currently has an issue of bonds outstanding that will mature in 33 years. The bonds have a face value of $1,000 and a stated annual coupon rate of 19% with quarterly coupon payments. The bond is currently selling for $1180. The bonds may be called in 5 years for 121% of par value. What is the quoted annual yield-to-maturity for these bonds
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