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(Yield to maturity) You own a 19-year bond that pays 12 percent interest annually. The par value of the bond is $1,000 and the market

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(Yield to maturity) You own a 19-year bond that pays 12 percent interest annually. The par value of the bond is $1,000 and the market price of the bond is $825. 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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