Bonds make semiannual payments

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Watters Umbrella Corp. issued 30-year bonds 2 years ago at a coupon rate of 7.4 percent. The bonds make semiannual payments. If these bonds currently sell for 83 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.)

YTM %

Reference no: EM131835721

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