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1 7 . Morin Company's bonds mature in 8 years, have a par value of $ 1 , 0 0 0 , and make an

17. Morin Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market price of bond is $903.04. What is the yield to maturity?
a.7.5%
b.9.3%
c.6.5%
d.8.2%
e.7.4%

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