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(Yield tomaturity) The market price is $900 for a 10-year bond ($1,000 parvalue) that pays 9 percent annualinterest, but makes interest payments on a semiannual

(Yield tomaturity)The market price is $900 for a 10-year bond ($1,000 parvalue) that pays 9 percent annualinterest, but makes interest payments on a semiannual basis (4.5 percentsemiannually).

What is thebond's yield tomaturity?

Round to Two Decimal Places

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