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You are evaluating an outstanding issue of $ 1 , 0 0 0 par value bonds with a ( n ) 9 . 3 8

You are evaluating an outstanding issue of $1,000 par value bonds with a(n)9.38% coupon rate that mature in 25 years and make quarterly interest payments. If the current market price for the bonds is $835, what is the quoted annual yield to maturity for the bonds?

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