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6-14 You are considering purchasing an outstanding Munchie Corporation bond that was issued four years ago. The bond has a 5.4 percent coupon rate (paid

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6-14 You are considering purchasing an outstanding Munchie Corporation bond that was issued four years ago. The bond has a 5.4 percent coupon rate (paid annually), a $1,000 face value, and a 30-year original maturity. Interest rates have changed since the bond was issued such that it is now selling for $934. What is the yield to maturity for the Munchie bond today? (LO 6-4)

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