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You are evaluating an outstanding issue of $1,000 par value bonds with a coupon rate of 9.52% that mature in 25 years and make quarterly
You are evaluating an outstanding issue of $1,000 par value bonds with a coupon rate of 9.52% 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? The quoted annual yield to maturity for the bonds is %. (Round to two decimal places.)
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