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8. Bounty Inc. has outstanding a fixed coupon, $1.000 par value bond with 10 years remaining until maturity. The bond makes semi-annual coupon payments, and

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8. Bounty Inc. has outstanding a fixed coupon, $1.000 par value bond with 10 years remaining until maturity. The bond makes semi-annual coupon payments, and the coupon rate is 9 percent. If the bond currently sells at a price of $1,150 per bond, what is the annualized yield to maturity of the bond? (6 points)

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