You are evaluating a 20-year bond that carries an 8 percent coupon rate, a current price of

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You are evaluating a 20-year bond that carries an 8 percent coupon rate, a current price of $1,234, and pays interest quarterly. How would this bond's Yield to Maturity (YTM) be quoted in the financial press?

a. 4.00%

b. 4.66%

c. 5.99%

d. 8.00%

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