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A 3-year bond offers a 6% coupon rate with interest paid annually. Assume the 1-year spot rate is 8%, the 2-year spot rate is 9%,

A 3-year bond offers a 6% coupon rate with interest paid annually. Assume the 1-year spot rate is 8%, the 2-year spot rate is 9%, the 3-year spot rate is 10%, the yield-to-maturity of the bond is closet to:

A. 11.93%

B. 6.00%

C. 9.00%

D. 9.92%

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