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A 10-year bond pays 12% interest on a $1,000 face value annually. If it currently sells for $1,100, what is its approximate yield to maturity?

A 10-year bond pays 12% interest on a $1,000 face value annually. If it currently sells for $1,100, what is its approximate yield to maturity? A. 10.35% B. 10.91% C. 11.00% D. 12.00%

Answer the following question in Microsoft EXCEL. Must show all your work using financial formula(s).

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