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You are analyzing the after-tax cost of debt for a firm. You know that the firm's 12 -year maturity, 12.00 percent semiannual coupon bonds are

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You are analyzing the after-tax cost of debt for a firm. You know that the firm's 12 -year maturity, 12.00 percent semiannual coupon bonds are selling at a price of $1,401,46. These bonds are the only debt outstanding for the firm. (31) What is the current YTM of the bonds? (Round final answer to 2 decimal places, e.9. 15.25\%.)

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