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A $ 1 4 , 0 0 0 bond has a coupon rate of 1 0 % and is redeemable in 5 years. What is

A $14,000 bond has a coupon rate of 10% and is redeemable in 5 years. What is the yield rate of the bond if the bond was purchased for $13,000?
a.
11.94%
b.
10.65%
c.
12.25%
d.
11.50%

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