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16) Blue's Chips Inc. has a $1,000 par value bond o that is currently selling for $1,300. It has an annual coupon rate of 7%

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16) Blue's Chips Inc. has a $1,000 par value bond o that is currently selling for $1,300. It has an annual coupon rate of 7% paid semianually, and has nine years remaining until maturity. What is the annual vaield to maturity on the bond ? A) 1.57% B) 6.24% C) 3.15% D) 3.12 %

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