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You are analyzing the cost of debt for a firm. You that the firm's 14-year maturity, 7.80 percent coupon bonds are selling at a price

You are analyzing the cost of debt for a firm. You that the firm's 14-year maturity, 7.80 percent coupon bonds are selling at a price of $843.00. The bonds pay interest semiannually. If these bonds are the only debt outstanding, answer the following questions. What is the current YTM of the bonds? (Round to 4 decimal places).

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