Bond valuation relationships - The 17-year, $1,000 par value bonds of Waco Industries pay 7 percent interest annually. The market price of the bond is $1,135, and the market's required yield to...

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Extracted text: Bond valuation relationships - The 17-year, $1,000 par value bonds of Waco Industries pay 7 percent interest annually. The market price of the bond is $1,135, and the market's required yield to maturity on a comparable-risk bond is 4 percent. .Compute the bond's yield to maturity.