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A $1,000 par bond having a 7% coupon rate (interest is paid semiannually) with 20 years to maturity is currently selling for $895. What is

A $1,000 par bond having a 7% coupon rate (interest is paid semiannually) with 20 years to maturity is currently selling for $895. What is the yield to maturity for the bond (approximately)?

Group of answer choices

4.03%

9.15%

8.24%

4.58%

8.07%

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