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A bond has a $1,000 par value, 15 years to maturity, a 9 percent annual coupon, and sells for $842. What is the bonds yield

A bond has a $1,000 par value, 15 years to maturity, a 9 percent annual coupon, and sells for $842. What is the bonds yield to maturity (YTM)?

a.8.71%

b.10.69%

c.8.42%

d.9.00%

e.11.22%

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