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Dynamo Corporation has semiannual bonds outstanding with 12 years to maturity, and the bonds are currently priced at $1,080.29. If the bonds have a coupon rate of 8 percent, then what is the equivalent annual return (EAR) to the investor for purchasing the bonds at the described price? Round your final percentage answer to two decimal places.
Embezzlement
The fraudulent appropriation of funds or property entrusted to one's care but owned by someone else.
Permanently
Describing a condition or state that is intended to last indefinitely or for a lifelong duration.
Presumed Guilt
The principle or state of assuming an individual is guilty without evidence or before the completion of a fair and just legal process.
Legal System
The comprehensive framework of rules and institutions within a society that govern individuals, entities, and their interactions.
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