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7. Four years ago, an issuer sold bonds that had a coupon of 4% (paid once a year, and most recently was paid yesterday), a
7. Four years ago, an issuer sold bonds that had a coupon of 4% (paid once a year, and most recently was paid yesterday), a face value of $1,000, and (what was then) a 5-year maturity. The bond is currently trading for $800. What is its yield to maturity?
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