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A few years ago, Spider Web, Inc. issued bonds with a 12.40 percent annual coupon...

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Accounting

A few years ago, Spider Web, Inc. issued bonds with a 12.40 percent annual coupon rate, paid semiannually. The bonds have a par value of $1,000, a current price of $930, and will mature in 20 years. What would the annual yield to maturity be on the bond if you purchased the bond today?

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