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A $1,000 bond has a 3 percent coupon and currently sells for $650. The bond matures after nine years. What is the bonds anticipated yield?

A $1,000 bond has a 3 percent coupon and currently sells for $650. The bond matures after nine years. What is the bonds anticipated yield? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest whole number.

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