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You ate evaluating an outstanding issue of $1,000 par value bonds with a(n) 8.59% coupon rate that mature in 25 years and make quarterly interest

You ate evaluating an outstanding issue of $1,000 par value bonds with a(n) 8.59% coupon rate that mature in 25 years and make quarterly interest payments if the current maket price for the bonds is $839. what is the quoted annual yield to maturity for the bonds? The quoted ansual yeld to maturity for the bonds is 16. (Round to two decimal piacos)

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