Charles Wilson bought 10-year bonds issued by Harvest Foods five years ago for $932.30. The bonds make semiannual coupon payments at a rate of 8.4 percent. If the current price of the bonds is $1,045.77, what is the yield that Charles would earn by selling the bonds today? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual yield

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A:

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