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20. A coupon bond that will be held to maturity can earn less than the yield to maturity if A. the coupon rate is lower

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20. A coupon bond that will be held to maturity can earn less than the yield to maturity if A. the coupon rate is lower than the yield to maturity at the time of bond purchase B. the yield spread on the bond tightens after the purchase of the bond C. the yield to maturity is lower than the coupon rate at the time of bond purchase D. reinvestment rates for the future coupons are lower than the initial yield to maturity E. the bond was purchase at a price below par value

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