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YZX Corp. has a bond issue with a $ 1 , 0 0 0 par value and a 1 1 % coupon rate. It pays

YZX Corp. has a bond issue with a $

1, 000

par value and a

11 %

coupon rate. It pays coupons

annually and has

10

years remaining to maturity. It just made a coupon payment. If the bond's

current price is $

1, 200,

what is the bond's yield to maturity?

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