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A $1,000 par value bond with a 7.25% coupon rate (semianual interest) matures in 8 years and currently sells for $976.13. What is the band's

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A $1,000 par value bond with a 7.25% coupon rate (semianual interest) matures in 8 years and currently sells for $976.13. What is the band's yield to maturity and bond equivalent yield? The bond's yield to maturity is 3% (Round to two decimal places.)

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