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A bond with a coupon rate of 6.08 percent and semiannual coupon payments matures in 15 years. The YTM is 7.06 percent. What is the

A bond with a coupon rate of 6.08 percent and semiannual coupon payments matures in 15 years. The YTM is 7.06 percent. What is the effective annual yield (EAR)?

Multiple Choice

6.17%
7.47%
7.06%
6.08%
7.18%

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