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6% coupon bond of a company pays coupon annually. The face value of the bond is $1,000 and it has a remaining life of 7

6% coupon bond of a company pays coupon annually. The face value of the bond is $1,000 and it has a remaining life of 7 years to maturity. If the bond is currently trading at $975.40, find the YTM of the bond.

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