Question: DMC Inc. is planning to issue a $1,000 face-value bond with an annual coupon rate of 10% that matures in 20 years. DMC is planning

DMC Inc. is planning to issue a $1,000 face-value bond with an annual coupon rate of 10% that matures in 20 years. DMC is planning to pay semiannual interest payments. Similar bonds are trading at 95% of par (that is, similar bonds are currently trading for $950). What is the yield to maturity for this bond

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