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You are considering the purchase of a Coupon Bond that matures in twenty-four years, and pays 6.55% (annual) coupons. The price of the bond is

You are considering the purchase of a Coupon Bond that matures in twenty-four years, and pays 6.55% (annual) coupons. The price of the bond is listed in the financial press as 110.276% of par value. Calculate the Yield-to-Maturity (YTM) on the security. (The answer is a percent, round your answer to two decimal places, e.g. 4.75)

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