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(Yield to maturity) A(n) 9 -year bond for Katy Corporation has a market price of $ 775 and a par value of $ 1,000 .

(Yield to maturity) A(n) 9 -year bond for Katy Corporation has a market price of $ 775 and a par value of $ 1,000 . If the bond has an annual interest rate of 6 percent, but pays interest semiannually, what is the bond's yield to maturity? ______%

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