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A bond has a $1,000 par or face value, 12 years to maturity, an annual coupon rate of 3%, and a current selling price of

A bond has a $1,000 par or face value, 12 years to maturity, an annual coupon rate of 3%, and a current selling price of $1,012. What is its yield to maturity?

2.88%

4.80%

5.51%

7.48%

8.27%

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