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(36) Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and...

(36) Yes They May, Inc. has a bond issue outstanding with a $1,000 par value and a maturity of 26 years. The bonds have an annual coupon rate of 18.0% with quarterly coupon payments. The current market price for the bonds is $875. The bonds may be called in 5 years for 118.0% of par. What is the quoted annual yield-to-maturity for the bonds?

5.15%
20.59%
21.70%
24.33%
39.14%
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