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99.A coupon bond which pays interest of 4% annually, has a par value of $100, matures in 5 years, and is selling today at $78.5.
99.A coupon bond which pays interest of 4% annually, has a par value of $100, matures in 5 years, and is selling today at $78.5. The actual yield to maturity on this bond is
a.9.6%
b.8.8%
c.7.2%
d.9.1%
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