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You notice in the WSJ a bond that is currently selling in the market for $1,073 with a coupon of 11% and a(n) 22-year maturity.

You notice in the WSJ a bond that is currently selling in the market for $1,073 with a coupon of 11% and a(n) 22-year maturity. Using annual compounding, calculate the promised yield on this bond.

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