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ABC Bank has purchased a bond with the following characteristics: Coupon rate of 4.5%, Face value of $1000, annual coupon payments, 6 years to maturity

image text in transcribed ABC Bank has purchased a bond with the following characteristics: Coupon rate of 4.5%, Face value of $1000, annual coupon payments, 6 years to maturity and current market price is $917. What is the yield-to-maturity on this bond? 5.5% 6.20% 6.95% 8% None of the options is correct

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