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6. New Westminster is expecting a period of intense growth and has decided to issue bonds to finance that growth. The management is expecting that

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6. New Westminster is expecting a period of intense growth and has decided to issue bonds to finance that growth. The management is expecting that 7% bonds would be able to sell at $86. What is the expected yield of these bonds if the term is 13 years? A. 6.46 B. 7.90 C. 8.90 D. 9.61 E. 11.23

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