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You are analyzing the after - tax cost of debt for a firm. You know that the firm's 1 2 - year maturity, 6 .

You are analyzing the after-tax cost of debt for a firm. You know that the firm's 12-year maturity, 6.50 percent semiannual coupon bonds are selling at a price of $610. Assuming that these bonds are the only debt outstanding for the firm, what is the current YTM of the bonds?

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