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A 15-year, 8% p.a. annual coupon rate, $1000 face value bond is currently trading at $958. The yield to maturity of this bond must be:

A 15-year, 8% p.a. annual coupon rate, $1000 face value bond is currently trading at $958. The yield to maturity of this bond must be:

a.

less than 8%.

b.

greater than 9.58%

c.

equal to 8%.

d.

equal to 9.58%

e.

greater than 8%.

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