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7 . A straight ( a . k . a . bullet or vanilla ) bond with a market price of ( $

7. A straight (a.k.a. bullet or vanilla) bond with a market price of \(\$ 98.50\), pays a \(10\%\) coupon, has a 10 year maturity \((6/30/2033)\), a par value of \(\$ 1,000\), and pays semiannual coupon payments. Assume a settlement date of \(7/31/2023\). a. Calculate the Yicld to Maturity. Round to the nearest month. To clarify, the YTM must be calculated to the nearest month, not year). b. Is this bond most likely an investment grade bond or junk bond? Defend your answer. using financial calculator

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