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A bond was issued 5 years ago. The bond is a 15-year bond with a 6% coupon rate and sells today for $1,253.23. Which statement

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A bond was issued 5 years ago. The bond is a 15-year bond with a 6% coupon rate and sells today for $1,253.23. Which statement about the market rate/YTM is correct? The market rate/YTM is less than 6% The market rate/YTM is greater than 6% We don't have enough information The market rate/YTM is equal to 6%

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