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A bond sold by General Motors Corp. has a face value on $1,000, a coupon payment of $70 per year, and a maturity of 3

A bond sold by General Motors Corp. has a face value on $1,000, a coupon payment of $70 per year, and a maturity of 3 years. The first coupon payment occurs a year from now. The market price is $720, what is the YTM?

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