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A corporate bond with a face value of $ 1 , 0 0 0 , a 5 % annual coupon rate, and 3 years to

A corporate bond with a face value of $

1, 000,

5 %

annual coupon rate, and

3

years to maturity is currently priced at $

970 .

What is the bond

s yield to maturity

(

YTM

) ?

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