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A $1,000 par value 10-year bond with a 10 percent coupon rate recently sold for $900. The yield to maturity is: 1. 10 percent 2.

A $1,000 par value 10-year bond with a 10 percent coupon rate recently sold for $900. The yield to maturity is:

1.

10 percent

2.

cannot be determined

3.

less than 10 percent

4.

greater than 10 percent

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