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YRK bonds currently sell for $870 and have a par value of $1,000. They pay a $50 annual coupon and have a 15-year maturity, but
YRK bonds currently sell for $870 and have a par value of $1,000. They pay a $50 annual coupon and have a 15-year maturity, but they can be called in 5 years at $1,080. What is their yield to maturity (YTM)?
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