Question: Eagle Industries' bonds have a 10-year maturity and a 8.45% coupon paid semiannually. They sell at their $1,000 par value, and are not callable. What

Eagle Industries' bonds have a 10-year maturity and a 8.45% coupon paid semiannually. They sell at their $1,000 par value, and are not callable. What is the effective annual rate (EFF\%) for these bonds? Recall that EFF\% =[1+(NominalRate)]n1 Your answer should be between 7.20 and 9.12 , rounded to 2 decimal places, with no special characters

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