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(Yield to maturity) Assume the market price of a 9-year bond for Margaret Inc, is $700, and it has a par value of $1,000. The

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(Yield to maturity) Assume the market price of a 9-year bond for Margaret Inc, is $700, and it has a par value of $1,000. The bond has an annual interest rate of 7% that is paid semiannually. What is the yield to maturity of the bond? The yield to maturity of the bond is \%. (Round to two decimal places.)

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