Problem

Bond Yields Hacker Software has 7.4 percent coupon bonds on the market with 9 years to mat...

Bond Yields Hacker Software has 7.4 percent coupon bonds on the market with 9 years to maturity. The bonds make semiannual payments and currently sell for 96 percent of par. What is the current yield on the bonds? The YTM? The effective annual yield?

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