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You are analyzing the cost of debt for a firm. You know that the firms 14-year maturity, 7.0 percent coupon bonds are selling at a

You are analyzing the cost of debt for a firm. You know that the firms 14-year maturity, 7.0 percent coupon bonds are selling at a price of $856.71. The bonds pay interest semiannually. If these bonds are the only debt outstanding for the firm, answer the following questions. What is the current YTM of the bonds?

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