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8. Assume a bond with an annual year-end cash flow of $100 each year and a face value of $1,000 with a five year maturity

8. Assume a bond with an annual year-end cash flow of $100 each year and a face value of $1,000 with a five year maturity and a current price of $960. What is its yield to maturity? (a). 10.00% (b). 10.41% (c). 11.08% (d). 20.83%

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