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A 4.4% bond pays interest semiannually. Its YTM is 4.3%. The Equivalent Annual Yield (EAY) on...

A 4.4% bond pays interest semiannually. Its YTM is 4.3%. The Equivalent Annual Yield (EAY) on this bond is ____%. Refer to Lecture 35-36 notes as needed. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process.

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