Rogue Outfitters Inc.has outstanding $1,000 face value 8% coupon bonds that make semiannual payments,and have 14 years remaining to maturity.If the current price for these bonds is $1,118.74,what is the annualized yield to maturity?

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The annualized yield to maturity is 6.68%. This is calculated using the following formula:YTM = (C + (FV - PV) / N) / ((FV + PV) / 2)where:C = coupon paymentFV = face valuePV = present valueN = number of periods to maturityIn this case, the coupon payment is $80 (8% of $1,000), the face value is $1,000, the present value is $1,118.74, and the number of periods to maturity is 14 * 2 = 28 (since the bonds make semiannual payments).Plugging these values into the formula, we get:YTM = (80 + (1000 - 1118.74) / 28) / ((1000 + 1118.74) / 2)= (80 - 35.34) / 1059.37= 0.0668= 6.68%