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An IBM bond carries an 8 percent coupon, paid annually. The par value is $1,000, and the bond matures in six years. If the bond

An IBM bond carries an 8 percent coupon, paid annually. The par value is $1,000, and the bond matures in six years. If the bond currently sells for $1152.24, what is its yield to maturity?

a. 3%

b. 4%

c. 5%

d. 7%

e. 8%

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