May industries has a bond outstanding that sells for 780, Financial Management

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May industries has a bond outstanding that sells for 780

May Industries has a bond outstanding that sells for $780. The bond has a coupon rate of 7.20 percent and 11 years until maturity. What is the yield to maturity of the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Yield to maturity %

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Financial Management: May industries has a bond outstanding that sells for 780

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Financial Management: May industries has a bond outstanding that sells for 780

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