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A company issued a 30-day bank-accepted bill with a face value of $100,000. The bill was trading at $99,185. After eight days the discounter sells
"A company issued a 30-day bank-accepted bill with a face value of $100,000. The bill was trading at $99,185. After eight days the discounter sells the bill in the short-term money market for $99,380. The bill is not traded again in the market. Calculate the yield to the holder at maturity."
A) 8.97%
B) 9.90%
C) 10.00%
D) 10.35%
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