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A coupon bond that pays interest annually is selling at a par value of $1,000, matures in five years, and has a coupon rate of

A coupon bond that pays interest annually is selling at a par value of $1,000, matures in five years, and has a coupon rate of 9%. The yield to maturity on this bond is

Select one:

a. 8.0%.

b. 8.3%.

c. 9.0%.

d. 10.0%.

e. None of the options are correct.

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