The Timberlake-Jackson Wardrobe Co. has 10.5 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments and have a par value of $1,000. If the bonds currently sell for $1,142.49, what is the YTM? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) Yield to maturity %
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