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A Lemmy Co. bond has an 11 percent coupon and pays interest semi-annually. The face value is $1,000 and the current market price is $1,268.10.

A Lemmy Co. bond has an 11 percent coupon and pays interest semi-annually. The face value is $1,000 and the current market price is $1,268.10. The bond matures in 16 years. What is the yield to maturity?

Multiple choice:

A.12.00 percent

B. 6.00 percent

C. 4.00 percent

D. 2.00 percent

E. 8.00 percent

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