Question: A $10 000, 12% bond with semi-annual coupons redeemable at par on December 1, 2024, was purchased on July 20, 2013, at 93.875. Compute the

A $10 000, 12% bond with semi-annual coupons redeemable at par on December 1, 2024, was purchased on July 20, 2013, at 93.875. Compute the approximate yield rate.

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