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A Japanese company has a bond outstanding that sells for 93 percent of its $5,000 par value. The bond has a coupon rate of 8%

A Japanese company has a bond outstanding that sells for 93 percent of its $5,000 par value. The bond has a coupon rate of 8% paid semi-annually and matures in 5 years. What is the yield to maturity of this bond?

i. Write down the discounted cash flow equation.

ii. (10 pts) Solve the equation to find the yield to maturity

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