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7. A 10-year bond series, issued January 1, 2018, pays semi-annual coupons at a rate of 12% per annum with a par value of $1,000.

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7. A 10-year bond series, issued January 1, 2018, pays semi-annual coupons at a rate of 12% per annum with a par value of $1,000. What is the bond's yield to maturity on July 1,2022 , given that the bond is selling for $1,100 ? What is the current yield based on this price

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