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Stein co issued 16-year bonds two years ago at a coupon

Stein Co. issued 16-year bonds two years ago at a coupon rate of 9 percent. The bonds make semiannual payments.

If these bonds currently sell for 114 percent of par value, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Yield to maturity %

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Financial Management: Stein co issued 16-year bonds two years ago at a coupon

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