Question: YIELD TO MATURITY A bond has a $1,000 par value, 14 years to maturity, and a 6% semiannual coupon and sells for $975. What is

YIELD TO MATURITY A bond has a $1,000 par value, 14 years to maturity, and a 6% semiannual coupon and sells for $975. What is its yield to maturity (YTM)? Round to TWO decimal place.

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