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2)Colliers Concord Ltd. has recently issued a bond 5.75% coupon bonds outstanding with a current market price of $689.40. The yield to maturity is 11.20%

2)Colliers Concord Ltd. has recently issued a bond 5.75% coupon bonds outstanding with a current market price of $689.40. The yield to maturity is 11.20% and the face value is $1,000. Interest is paid semiannually. How many years is it until these bonds mature? (Show all the necessary steps of the calculations) (20 marks)
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