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A 30-year bond with par value $1,000 has annual coupons and sells for 1,300. The write-down in the first year is $4.60. What is the

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A 30-year bond with par value $1,000 has annual coupons and sells for 1,300. The write-down in the first year is $4.60. What is the yield to maturity on this bond? Hint: The total write downs sum to the total reduction from the purchase price

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