The bonds make semiannual payments and currently sell

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Bourdon Software has 8.76 percent coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 105.82 percent of par.

What is the current yield on the bonds?

(Enter your answer as a percentage, omit the "%" sign in your response, and enter your answer with two decimal places.

Reference no: EM13877885

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