Question: You currently have issued multiple 15-year AAA bonds with a face value of $1,000 and semiannual coupons. The bonds have an annual coupon rate of

You currently have issued multiple 15-year AAA bonds with a face value of $1,000 and semiannual coupons. The bonds have an annual coupon rate of 7% and are currently selling at a price of $1,209.30. What is the yield-to-maturity of the bond?

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