Question: Using the approximate yield to maturity formula, calculate the YTM on a $1,000 par value bond that has a coupon rate of 10.0% and is

Using the approximate yield to maturity formula, calculate the YTM on a $1,000 par value bond that has a coupon rate of 10.0% and is currently selling for $522.55. The bond will mature in 3 years. (Please type your answer in decimals e.g. 10.1% should be shown as 0.101.)

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