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23. A corporate bond has a face value of $1,000, and pays a $50 coupon every six months (i.e., the bond has a 10 percent
23. A corporate bond has a face value of $1,000, and pays a $50 coupon every six months (i.e., the bond has a 10 percent semiannual coupon). The bond matures in 12 years and sells at a price of $1,080. What is the bonds nominal yield to maturity?
A. 8.28%
B. 8.65%
C. 8.90%
D. 9.31%
E. 10.78%
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