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A fifteen-year bond with semi-annual coupons has a nominal annual rate of 7.0%. The bond is par-valued and has a face value of $100,000. (Each

A fifteen-year bond with semi-annual coupons has a nominal annual rate of 7.0%. The bond is par-valued and has a face value of $100,000. (Each coupon pays $3,500.) If the price of the bond is $66,500, find the yield and write up the bond.

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