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A 10-year semiannual bonds coupon rate is 6%. Its current market price is $975 and par value is $1,000. What is the effective annual yield

A 10-year semiannual bonds coupon rate is 6%. Its current market price is $975 and par value is $1,000. What is the effective annual yield of this bond?

Group of answer choices

3.1707%

6.3414%

6.4419%

6.8483%

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