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A 30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 7.80%. (Do not round intermediate calculations.

A 30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 7.80%.(Do not round intermediate calculations. Enter your answers as a percent rounded to 3 decimal places.)

a.What is the yield to maturity if the bond is selling for $1,040?

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