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( Yield to maturity ) The market price is $ 1 comma 0 7 5 for a 1 2 - year bond ( $ 1

(Yield to maturity)The market price is $1 comma 075 for a 12-year bond ($1 comma 000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bond's yield to maturity?

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