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2) 1+2 = 3points a. How is current yield defined? b. Which Bond would have a higher yield: (calculate YTM to support your answer) $1000

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2) 1+2 = 3points a. How is current yield defined? b. Which Bond would have a higher yield: (calculate YTM to support your answer) $1000 bond maturing in 15 years with current yield of 10% and current price of $850 or $1000 bond maturing in 2 years with current yield of 5% and current price of $850

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