Question: YIELD TO MATURITY A bond has a $1,000 par value, 12 years to maturity, and a 8% semiannual coupon and sells for $995. What is

YIELD TO MATURITY A bond has a $1,000 par value, 12 years to maturity, and a 8% semiannual coupon and sells for $995. What is its yield to maturity (YTM)? Round to TWO decimal place.

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