Question: A 1 6 - year, 1 3 . 0 0 % semiannual coupon bond with a par value of $ 1 , 0 0 0

A 16-year, 13.00% semiannual coupon bond with a par value of $1,000 may be called
in 4 years at a call price of $1,065. The bond sells for $1,205.00. Find bond's nominal yield to maturity. (Assume that the bond has just been issued and has exactly 16 years until maturity.)

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