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A corporate bond has a face value of $1,000, and pays a $50 coupon every six months The bond matures in 12 years and sells

A corporate bond has a face value of $1,000, and pays a $50 coupon every six months The bond matures in 12 years and sells at a price of $1,080. What is the bonds nominal yield to maturity?

a. 4.45%

b. 4.14%

c. 8.90%

d. 8.28%

e. 10.78%

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