Question: Yield to Maturity and Current Yield You just purchased a bond that matures in 12 years. The bond has a face value of $1,000 and

Yield to Maturity and Current Yield

You just purchased a bond that matures in 12 years. The bond has a face value of $1,000 and a 7% annual coupon. The bond has a current yield of 5.74%. What is the bond's yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.

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