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A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080. 1. What is its yield

A bond has a $1,000 par value, 15 years to maturity, and an 8% annual coupon and sells for $1,080.

1. What is its yield to maturity (YTM)?

2. Assume that the yield to maturity remains constant for the next four years. What will the price be 4 years from today?

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