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Bare Trees United issued 20-year bonds 3 years ago at a coupon rate of 8.5...

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Bare Trees United issued 20-year bonds 3 years ago at a coupon rate of 8.5 percent. The bonds make semiannual payments. If these bonds currently sell for 91.4 percent of par value, what is the YTM? 4.77% 8.22% 9.53% 2.39%

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