Question: Stein Co. issued 13-year bonds two years ago at a coupon rate of 9.8 percent. The bonds make semiannual payments. If these bonds currently sell

Stein Co. issued 13-year bonds two years ago at a coupon rate of 9.8 percent. The bonds make semiannual payments.

If these bonds currently sell for 101 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.)

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