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A company's bond has an annual coupon rate of 4 % . The bond pays coupons semiannually and has a par value of $ 1

A company's bond has an annual coupon rate of

4 % .

The bond pays coupons semiannually and has a par value of $

1, 000 .

The bond matures in

6

years. What is the percentage

(%)

yield to maturity on the bond if the bond is currently selling for $

825 ?

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