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A corporation issues a bond today with a $1950 face value, maturity in 25 years, and a 8% coupon interest rate; interest is paid annually.

A corporation issues a bond today with a $1950 face value, maturity in 25 years, and a 8% coupon interest rate; interest is paid annually. An investor purchases the bond for $1950. What is the yield to maturity?

Finance

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