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A bond has a $1,000 par value, Id years to maturity, a 7 percent annual coupon, and sells for $1,057. What is the bond's yield

A bond has a $1,000 par value, Id years to maturity, a 7 percent annual coupon, and sells for $1,057. What is the bond's yield to maturity (YTM)? a. 7.00% b. 11.27% O 06.42% Od. 6.62% O 10.57%

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