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A bond has a face value of $1,000, an 10.4 percent, semi-annual coupon, and a market price of $1,108.12. How many years will it be

A bond has a face value of $1,000, an 10.4 percent, semi-annual coupon, and a market price of $1,108.12. How many years will it be until this bond matures if the yield-tomaturity is 9.3 percent? Multiple Choice 25 years 54 years 31 years 27 years

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