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a. If the yield to maturity on an annual-pay bond is 5.6%, what is the bond-equivalent yield? b. If the yield of a U.S. bond

a. If the yield to maturity on an annual-pay bond is 5.6%, what is the bond-equivalent yield?

b. If the yield of a U.S. bond issue quoted on a bond-equivalent basis is 5.6%, what is the yield to maturity on an annual-pay basis?

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