BCC has issued 6 5/8percent debentures that will mature on July 15, Year 31. Assume...
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Accounting
BCC has issued 6 5/8percent debentures that will mature on July 15, Year 31. Assume that interest is paid and compounded annually. If an investor purchased a $1,000 denomination bond for $1,020 on July 15, Year 1, determine the bonds yield-to-maturity. Round your answer to two decimal places.

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