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(Yield to maturity) You own a 14-year bond that pays 9 percent interest annually. The par value of the bond is $1,000 and the market
(Yield to maturity) You own a 14-year bond that pays 9 percent interest annually. The par value of the bond is $1,000 and the market price of the bond is $1,125. What is the yield to maturity of the bond? (Round to two decimal places)
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