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Alphabet Inc. has a 7 percent coupon bond outstanding that matures in 13.5 years. The bond...

Alphabet Inc. has a 7 percent coupon bond outstanding that matures in 13.5 years. The bond makes semiannual coupon payments. The par value of the bond is $1000, and it is currently selling on the market for $550.40. What is the bond’s yield-to-maturity?

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