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5. Assume the par value of the bond is $1,000. The Pioneer Petroleum Corporation has a bond outstanding with an $85 annual interest payment, a

5. Assume the par value of the bond is $1,000. The Pioneer Petroleum Corporation has a bond outstanding with an $85 annual interest payment, a market price of $800, and a maturity date in five years. Find the following: a. The coupon rate. b. The current rate. c. The approximate yield to maturity. please show your work

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