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A coupon bond that pays interest of 14% annually has a par value of $1,000, matures in 5 years, and is selling today at $785.

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A coupon bond that pays interest of 14% annually has a par value of $1,000, matures in 5 years, and is selling today at $785. The actual yield to maturity on this bond is_... O less than 7% O between 7% and 11% O greater than 17% O between 11% and 17%

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