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Wilson Wonders’ bonds have 7 years remaining to maturity Interest is paid annually the bonds have a $1 000 par

Question

Wilson Wonders’ bonds have 7 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par

value, and the coupon interest rate is 9%. The bonds sell at a price of $1,095. What is their yield to maturity? Round your answer to two decimal places.

Financial Accounting