Question: has outstanding $ 1 , 0 0 0 face value 1 2 % coupon bonds that make semiannual payments, and have 8 years remaining to

has outstanding $1,000 face value 12% coupon bonds that make semiannual payments, and have 8 years remaining to maturity. If the current price for these bonds is $1,274.35, what is the annualized yield to maturity?
Hint: you're solving for I/yr

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